The Egyptian government is unlocking investment opportunities in Cairo’s historic downtown area. As announced by Minister of Planning and Economic Development, Hala Helmy El-Said, seven to eight former ministerial buildings will be available for private sector investment in the latter half of this year.
This initiative follows the relocation of government ministries to the new administrative capital. These soon-to-be-available buildings are situated along the picturesque Nile Corniche, offering prime locations for potential investors.
“The government has completed its evaluation process for these ministerial buildings,” El-Said informed Asharq Business. These buildings, some dating back to the 19th century, form part of the Ministry District, a significant complex stretching from Qasr Al-Aini Street to Ramses Street in Downtown Cairo.
This move aligns with President Abdel Fatah El-Sisi’s January decree transferring ownership of 13 state-owned buildings, including the Ministry District, to the Sovereign Fund of Egypt (TSFE). The TSFE’s mandate is to invest and develop these properties, creating opportunities for sale, development, lease, partnerships, or other forms of investment.
“By offering these buildings for investment,” explained El-Said, “we aim to generate revenue for the state while retaining ownership.” This strategy mirrors successful projects like the conversion of the Tahrir Complex into a Marriott hotel and the repurposing of the former Ministry of Interior building.
This step reflects Egypt’s commitment to attracting private sector investment and revitalizing its historic core. The upcoming availability of these landmark buildings presents exciting prospects for investors seeking unique commercial opportunities in a prime Cairo location
