Egypt unveils another new luxury megaproject

A massive initiative in Egypt that will be located near the colossal Grand Egyptian Museum, which recently opened on the outskirts of Cairo, and the Sphinx International Airport. It is the latest in a string of megaprojects undertaken by President Sisi which have included a $59 billion new administrative capital east of Cairo, a $1.3 billion monorail and a $23 billion high-speed rail. The Jirian luxury city is expected to take five years to complete. Critics however warn of the increasing debt burden in Egypt and rising cost of living with both poverty and inflation on the rise.