Egypt is planning a new administrative and business capital, which will be built on the outskirts of Cairo, the BBC reports.
A website promoting the new capital was unveiled on Friday, though the official launch to global investors and politicians took place at a government conference at the Red Sea resort of Sharm el-Sheikh.
Planned to house up to five million residents, the city will be built in the corridor between Cairo and the Red Sea. It will have 1.1 million housing units and 1.75 million permanent jobs.
"The master plan is to create a global city with smart infrastructure for Egypt's future, which will provide a multitude of economic opportunities and offer a distinct quality of life," according to the website.
The area allocated for the city is some 700 sq km (270 sq miles) - about the size of Singapore.
Egyptian government departments, ministries, and foreign embassies, will move to the new metropolis from Cairo.
The company behind the development is Capital City Partners, a private real estate investment fund led by Dubai businessman Mohamed Alabbar, who built the world's tallest building, the Burj Khalifa.
A screenshot from the promotional website showing the plan of Egypt's new capital.