A state-owned Chinese company has pledged $20 billion to the megaproject of creating a new Egyptian capital city. This is in addition to $15 billion already pledged by another Chinese company, which brings the budget of $45 billion well within reach. The currently unnamed city hopes to solve several problems of Cairo, including crowding, pollution, and inflating house prices. There is some concern from urban planners however, as Egypt has already attempted to establish eight satellite cities surrounding Cairo that fulfills the open needs of the mother city. These cities have largely failed and are called ghost towns by locals. One of the main problems with the satellites is their modern design and feel, which does not suit well for the culture of the area. The proposed design for the new capital is very modern itself and only time will tell of the success or failure of this large foreign investment.