New administrative capital to add pressure on resources -Werr

No one story is leading the conversation on Egypt this morning in the international press, but that doesn’t mean it was a quiet night at all:

Development plans for the new administrative capital will “put Egypt’s resources to the test,” Patrick Werr writes for The National. Werr says finding the water resources to supply the new city is “a mystery.” Financing the expansion is also not yet entirely clear, either. Werr says The New Administrative Capital for Urban Development, the company developing the new administrative capital, will “pay for much of the construction, including that of the new ministries. In exchange it will take possession of the property of ministries' buildings in Cairo and then either sell or rent them. In the case of housing, private and public contracting companies buy land held by the New Administrative Capital Company then in return sell them to future residents.”