The development will comprise 60 residential buildings, offering 1,840 fully finished apartments, alongside 98 villas, divided as townhouses, twin houses, and standalone units. READ: Talaat Mostafa wins Egypt capital city project The news come three years after a memorandum of understanding was signed in 2015 between UAE-based Capital City Planners and Egypt's government to build a new city that can accommodate a population of five million. It will be developed on a land area of around 700km2 – around 12 times the size of Manhattan Island – and be located between Cairo and the Red Sea.