
Egypt unveils plan for new desert city in latest megaproject
The new city, named Jirian meaning 'Flow' in Arabic, is part of Egypt's Nile Delta scheme, a massive agricultural initiative aiming to reclaim about 2.5 million acres west of the original Nile Delta.
The ambitious agricultural project, which started in 2021, seeks to boost production of strategic crops such as wheat and corn while reducing the North African country's food import bill.
The project is the latest in a string of megaprojects launched by President Abdel Fattah al-Sisi in recent years, including a new administrative capital east of Cairo.
While officials say these projects are key to Egypt's long-term growth, they have also contributed to the country's soaring foreign debt, which quadrupled since 2015 to reach $155.2 billion by late 2024.
The country has also received billions of dollars from the International Monetary Fund and the European Union to ensure its financial stability, with the EU pledging billions more last month.
At a launch event on Sunday, Egyptian Prime Minister Moustafa Madbouli called the Jirian project 'an urban and development revolution'.
He added that it would create 250,000 jobs and serve as the cornerstone of a wider development zone equivalent in size to four to five governorates.
'We are talking about full-spectrum development,' he told reporters, describing a sprawling urban zone that will include industry, logistics hubs and homes for 'between 2.5 and 3 million families'.
The government did not disclose the total cost of the project which is being developed in partnership with three major Egyptian real estate firms.
The new Nile Delta project comes at a time when Egypt is already under pressure to secure its water future.
With 97 percent of its fresh water sourced from the Nile, the country has been locked in a years-long dispute with Addis Ababa over the Grand Ethiopian Renaissance Dam, which Cairo fears could reduce downstream water flows.
Developers said that a canal connected to the Nile will run through the heart of the 1,680-acre Jirian city, occupying a fifth of its total area and serving both as a scenic centrepiece and an irrigation source for surrounding farmland.
The project will feature luxury residences, 80-storey skyscrapers, international universities and hospitals, an eco-friendly hotel, commercial zones as well as a cultural and media district, they added.
It will also lie just minutes away from the Grand Egyptian Museum, which is due to fully open in July, the Giza Pyramids and nearby Sphinx international airport.
Construction began five months ago and is expected to be completed within five years, according to the project's developers.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


CTV News
43 minutes ago
- CTV News
U.S. says tariff deadline of Aug 1 is firm, no extensions
U.S. President Donald Trump listens to members of the media after he arrived at Prestwick Airport in Ayrshire, Scotland, Friday, July 25, 2025.(AP Photo/Jacquelyn Martin) WASHINGTON — The U.S. deadline of August 1 for imposing tariffs on its trading partners is firm and there will be no extensions, U.S. Commerce Secretary Howard Lutnick said Sunday. 'So no extensions, no more grace periods. August 1, the tariffs are set. They'll go into place. Customs will start collecting the money, and off we go,' Lutnick told 'Fox News Sunday.' After the levies kick in, U.S. President Donald Trump -- who was negotiating Sunday in Scotland with European Union officials -- is still willing to keep talking, Lutnick said. Of the Europeans, Lutnick said, 'You know they're hoping they make a deal, and it's up to President Trump, who's the leader of this negotiating table. We set the table.' So far five countries have struck deals with the Trump administration ahead of the Friday deadline as it tries to overhaul the global system of largely free trade by slapping tariffs on countries that the United States deems as engaging in unfair practices. These five are Britain, Vietnam, Indonesia the Philippines, and Japan. The levies they accepted are often higher than the new base rate of 10 percent that the United States has applied to most countries since April. But they are far below the levels the Trump administration threatened to impose if no deal were reached. AFP


Winnipeg Free Press
13 hours ago
- Winnipeg Free Press
Trump's meeting with a key European official comes as his tariff deadline nears
EDINBURGH, Scotland (AP) — Donald Trump is meeting Sunday with European Commission President Ursula von der Leyen, taking a break from golfing in Scotland to discuss trade as both sides seek an agreement on tariff rates now that the White House's deadline to impose stiff tariff rates is looming. Trump played golf Saturday at his course in Turnberry on the southwest coast of Scotland and is expected to hit the links again frequently during his five-day visit. On Tuesday, he'll be in Aberdeen, in northeast Scotland, where his family has another golf course and is opening a third next month. Trump and his son Eric are planning to help cut the ribbon on the new course, where public tee times starting Aug. 13 are already on offer. The visit with von der Leyen is expected to be behind closed doors and few further details have been released. Leaving the White House on Friday, Trump said 'we have a 50-50 chance, maybe less than that, but a 50-50 chance of making a deal with the EU.' He said the deal would have to 'buy down' the currently scheduled tariff rate of 30% on the bloc of 27 member states. Later, von der Leyen posted on X that, 'Following a good call' with Trump, the pair had 'agreed to meet in Scotland on Sunday to discuss transatlantic trade relations, and how we can keep them strong.' The U.S. and EU seemed close to reaching a deal earlier this month, but Trump instead threatened a 30% tariff rate on the bloc of nations. Still, Trump's original deadline for beginning such tariffs has already passed, and is now delayed until at least Friday. Flying to Scotland to enjoy his golf courses hasn't stopped the president from talking trade. After going to Turnberry to play nine holes, have lunch, then play nine more, Trump posted that he'd block any trade deals between the U.S. and Cambodia and Thailand since the two southeast Asian countries remain locked in violent clashes in long-disputed border areas. Trump wrote that he spoke with Cambodian Prime Minister Hun Manet and Phumtham Wechayachai, the acting prime minister of Thailand, to call for a ceasefire. 'I am trying to simplify a complex situation!' he wrote on Truth Social after disclosing his conversation with the Cambodian leader. After speaking with Wechayachai, Trump said both countries want peace and added: 'Ceasefire, Peace, and Prosperity seems to be a natural.' The actual likelihood of a deal with the EU, meanwhile, remains to be seen. Monday Mornings The latest local business news and a lookahead to the coming week. Trump recently said he thought the odds of reaching a framework with Japan was 25% — but the U.S. and Japan subsequently announced an agreement this past week. The president also bragged earlier in his term that he would leverage constant threats of steep U.S. tariffs around the globe to negotiate better rates and shrink trade deficits with some of Washington's key allies. But, so far, that effort has fallen well short of expectations, meaning the onus may be on Trump to be able to announce an agreement with a bloc as key to global commerce as the EU. Trump is also set to meet Monday in Scotland with British Prime Minister Keir Starmer, after the two announced a trade framework in May and a larger agreement last month during the G7 in Canada. Trump says that deal is concluded and that the pair will discuss other matters — though the White House has suggested it still needs some polishing. Without an EU deal, the bloc said it was prepared to retaliate with tariffs on hundreds of American products, ranging from beef and auto parts to beer and Boeing airplanes. If Trump follows through on his threat of tariffs against Europe, it could make everything from French cheese and Italian leather goods to German electronics and Spanish pharmaceuticals more expensive in the U.S.


Globe and Mail
a day ago
- Globe and Mail
New Buy Rating for SAP SE (0NW4), the Technology Giant
In a report released today, Sven Merkt from Barclays maintained a Buy rating on SAP SE, with a price target of €275.00. The company's shares closed yesterday at €245.83. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. According to TipRanks, Merkt is a 3-star analyst with an average return of 2.2% and a 53.42% success rate. Merkt covers the Technology sector, focusing on stocks such as Temenos, Sage Group plc, and Adyen. Currently, the analyst consensus on SAP SE is a Strong Buy with an average price target of €299.65, which is a 21.89% upside from current levels. In a report released on July 23, Deutsche Bank also maintained a Buy rating on the stock with a €310.00 price target. 0NW4 market cap is currently €287.2B and has a P/E ratio of 44.29. Based on the recent corporate insider activity of 60 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of 0NW4 in relation to earlier this year.