Oh I don't know... a place steeped in mysticism. A country that is, at this point in time, probably the most interesting it could ever be to the Ars Magic setting! Consider:
One of the most significant countries to the founding of the Order, based on the history of Bonisagus.
Links to the (Mercere?) theory that the Order is a reincarnation of a previous (Egyptian) order. A cycle that is due to repeat itself.
Significant story/material potential regarding the Hermetics within Egypt and other "Hedge Wizards".
The country's population (as the most populous country in the middle east) and population density make for some interesting sagas.
The country is a massive mix of cultures. At this point in time, it is an even split between Coptic Christian Egyptians and Muslim Christian Egyptians but significant pockets of Armenians and Jews. So up until the 5th Crusade (see below), this current period of history has significantly more tolerance in Egypt.
During the Ayyubid dynasty a long line of Coptic personalities appeared, among them clergy, laymen of high- ranking positions in the State, individuals with artistic and literary talents, physicians and architects. Really? Talented "physicians and architects?" - Perhaps the order within Egypt has had to.. twist some rules about their conduct with the nobility (ala Jerbiton style) to survive in a muslim-ruled land?
It is near the end of the Ayubbid period. The current sultan is due to die defending Damietta against the 5th Crusade (1219).
I was .. well, not so shocked to realise Egypt wouldn't even be included in the Levant Tribunal book (should that ever come out). But with all the reference to other Wizards all around the world, I felt that it would be a very interesting place to have some cannon material about.
So much material draws on knowlege/history from Egypt (Amazons, OoH, Soqatrans even have some history about it), not to mention that an entire division of the church (Ethiopians, Armenians, Syriacs, Copts all view the Alexandrian pope as the first amongst equals. Similar vein to Constaniople and the Greeks. In fact, the Oriental Orthodox Church would outnumber the Eastern Orthodox one at this time - depending on how much of Russia is now Christian by this point)
PS Lets get 50 of us and finance this project? ;p