The building design was decided by an architectural competition announced on 7 January 2002. The organisers received 1,557 entries from 82 countries, making it the second largest architectural competition in history. In the second stage of the competition, 20 entries submitted additional information on their designs. Judging was complete by 2 June 2003. The competition was won by architects Róisín Heneghan and Shi-Fu Peng, and their company Heneghan Peng Architects of Ireland; the awarded prize was US$250,000.The building was designed by Heneghan Peng Architects, Buro Happold, and Arup. The landscape and site masterplan was designed by West 8; the exhibition masterplan, exhibition design, and museology was led by Atelier Brückner.
On 2 February 2010, Hill International announced that Egypt's Ministry of Culture had signed a contract with a joint venture of Hill and EHAF Consulting Engineers to provide project management services during the design and construction of the Grand Egyptian Museum.
Exterior under construction in 2019
The building is shaped like a chamfered triangle in plan. It sits on a site 2 kilometres (1.2 miles) northwest of the pyramids, near a motorway interchange. The building's north and south walls line up directly with the Great Pyramid of Khufu and the Pyramid of Menkaure. The front of the museum includes a large plaza filled with date palms and a façade made of translucent alabaster stone. Inside the main entrance is a large atrium, where large statues will be exhibited.
The project is estimated to cost US$550 million, of which US$300 million will be financed from Japanese loans. The remaining costs are financed by the Supreme Council of Antiquities, other donations, and international funds.
The new museum is designed to include newer technologies, such as virtual reality. The museum will also be an international center of communication between museums, to promote direct contact with other local and international museums. The Grand Egyptian Museum will include a children's museum, conference center, training center, and workshops designed similarly to the old Pharaonic places.