The Capital Cairo Presentation 2015
The Capital Cairo is a megaproject that aims to transform Egypt’s economy. It is the brainchild of private developer Mohamed Alabbar, who also developed the Burj Khalifa.
The $45 billion capital would be a sprawling 270-square-mile metropolis of low-rise buildings surrounding a cluster of skyscrapers. The city will accommodate more than 7 million inhabitants and boast such amenities as a theme park six times the size of Disneyland.
The presentation below was developed for Alabbar to address potential backers at a conference in Washington in 2015.
Introduction: Mohamed Alabbar is one of the Middle East’s most respected and recognized businessmen. The founder and chairman of global property developer Emaar Properties, he is well-known for his pioneering role in positioning Dubai as a world-class city.
Alabbar is the Founder & Chairman of Africa Middle East Resources, which unlocks the potential of natural resources in Africa, and Chairman of Tradewinds Corporation, a leisure and hospitality owner-operator in Malaysia.
A member of the Dubai World Expo 2020 Preparatory Committee, Alabbar was the founding Director General of the Dubai Department of Economic Development (DED) and served as a member of the Dubai Executive Council and Dubai Economic Council.
A graduate in Finance and Business Administration from Seattle University, Alabbar also holds an Honorary Doctorate from the University and serves on its Board of Trustees. He is an active member of the UAE’s endurance horse racing community.
Alabar:
I was born in Dubai. Back when it was a very different place.
My father, a dhow captain, taught me the value of trade.
I was the first in my family to go to university. In the US, no less, where I saw another side of life.
While I learned and developed my business skills, I began to dream.
But what really set me on my path was Singapore, where I spent 7 formative years.
This was a place that reinvented itself in the 20th century. From a British colony, it became a sovereign city state, an economic success, an Asian Tiger.
Singapore taught me three things {count off points on thumb and fingers}: Dream big. Have the will. Make it happen.
Because when you have a dream, you need to deliver it.
When I returned to Dubai, I found a place much like Singapore. Only about 15 years behind.
So I took a gamble on Dubai, that it would grow as Singapore had before. At first, it was not promising. There were doubters. ‘How can you build on this?’ They said.
But I was working for an extraordinary man: His Highness Sheikh Mohammed bin Rashid Al Maktoum. Really a visionary.
We made Dubai green. We built into the sky. We built communities. We created something from nothing. We took lifestyle to a whole new level.
We leaped over other cities to create the model for a 21st century global city. Building things that were remarkable, not just in the Middle East—but in the whole world. Creating a sense of wonder… {pause}
As you’ve no doubt realized—my gamble paid off. And I’m very grateful for all the help I’ve had along the way. {pause}
‘Okay,’ said the doubters. ‘Nice job. But it’s all thanks to oil. These grand projects will eat it all up,’ they said. ‘Oil won’t last forever.’
That’s true. But Dubai has already moved beyond oil to become a world hub for business, for travel, for tourism.
Dubai gave me a canvas on which to paint my dreams. We dreamed really big. And when you dream that big, you really have to deliver.
And we did. We turned sand into magic, delivering something almost unbelievable. Yet very real.
Now I’m taking my dreams beyond the Emirates. And making them happen.
This is a special time for Africa. And I’m grateful for the welcome I’ve received in Nigeria, in Angola, and in Egypt.
We’re going to develop something truly extraordinary. You’re worried whether this can be done. And so fast? How will we deliver it?
Downtown Dubai was ready within seven years. People say: ‘What about consistent electricity?’
‘What about running water?’ Yes, we had that problem in the desert. {pause} There are clear ways to deliver such infrastructure. It just takes the will to do it.
‘What about corruption?’ people will ask. We work with bureaucracy. That’s what I do. And, by the way, things are changing. Fast. It takes hard work. And persistence.
The will to change exists. I saw it myself just last month at the Egypt Economic Development Conference in Sharm El-Sheik. The aim of the conference was to put Egypt back on the map of international investment. And it succeeded. At the conference investors announced $38.2 billion in deals -- $12 billion for infrastructure -- plus an addition $92 billion in memoranda of understanding.
So it’s not just me who believes that the time to act in Egypt is now.
I don’t need to remind you of Egypt’s historic significance. A birthplace of civilization. What Herodotus said of the country remains true today.
Here is the opportunity. Egypt is growing, especially Cairo, where the population will more than double in the next 35 years.
To guide that growth, Egypt must be flexible enough to adjust to future changes. The country needs a new destination designed to adapt and embrace its natural desert setting.
This is a rare opportunity for the people of Egypt to create a bold vision for a new capital city. To build national spirit, foster consensus and provide for the country’s sustainable long-term growth.
This location is a special place. It has a striking landscape, and remarkably diverse landforms. There are both prominent peaks and deep valleys.
The site is situated 45 km from Central Cairo and 80 km from Suez, providing linkages to significant shipping routes. The city will be well-connected locally, regionally and internationally. It’s a very large area, 12 times the size of Manhattan, with over 10,000 km of boulevards, avenues and streets.
The Egyptian Government is committed to shifting significant administrative and service functions to the new city, creating job opportunities and boosting the national economy.
Special districts within this new destination will have urban neighbourhoods, lush gardens and shaded walkways. This will help create a new identity and sense of urbanity.
Each community within the city will provide employment and living opportunities as well as a variety of shops, cafes, schools, religious establishments and public parks for residents, workers and visitors alike. The focus will be on promoting pedestrian-friendly choices throughout the city.
This new capital city will be a Smart City, and it will embrace an ethos of sustainability born from Egypt’s tradition. The new capital will take advantage of the sustainable technologies of today as well as be adaptable to future technologies, further enhancing its resource-efficiency.
The new capital will make use of the sustainable technologies of today as well as be adaptable to future technologies while supporting a healthy lifestyle.
The unique ecology of the site will be protected and organic waste recycled in order to grow. healthy, local food, resulting in the emergence of a park land.
In short, Cairo Capital is a momentous endeavour to build national spirit, foster consensus, provide for long-term sustainable growth and address various issues faced by Egypt through a new city, which will create more places to live, work and visit.
The initial phase of development encompasses 105 square kilometers and draws from an investment of $45 billion. So it's quite a big project. {understatement -- pause for effect}
But it’s been done before. Capitals move all the time. Naypyidaw, Myanmar. Abuja, Nigeria. Brasilia, Brazil. The place where we are standing today was a swamp.
We built Dubai on sand… Imagine what we can do in Egypt.