I lived in Cairo for a little while. In no way are they ready to host an Olympics. I visited Rio in 2015 and they were light years ahead of where Cairo is now in terms of infrastructure, so if they considered Rio a failure then Cairo would be a disaster. I realize they just built a new capital and it would be in 14 years, but I just don't see how they could ever get to an Olympic host level in that time. Having said that, it would be very cool for Egypt to host, have the marathon end at the Spinx, sailing in the Red Sea, beach volleyball by the pyramids, etc. But I just can't see it happening that soon.
I've always said Istanbul would be a great location, though, if they want to bid.