This project involves development of a new parliament building within the Ministerial District Development of the New Capital City in Egypt. The new capital is one of a series of mega-projects announced by the President designed to attract foreign investment and create jobs in a country with a growing population of 92 million. Among the development and infrastructure investments was a deal to build the new capital's first phase, which Egypt has said will cost some US$45 billion. Actualizing this venture with "Egyptian hands" is a lift to Egyptian organizations working by giving openings for work and sparing the nation from spending its truly necessary hard cash, Alaa Waly, leader of the parliament's lodging council, said in an announcement. Local Arab Contractors has been awarded the main contract on this scheme. The contractor is also expected to complete a wide range of other infrastructure schemes in the area. Work is expected to commence soon on the scheme.