Ministry of Planning Unveils Redevelopment Plans for Tahrir Complex and Historic Ministry of Interior Building

H.E. Dr. Hala El Said, Minister of Planning and Economic Development, who also serves as Chairperson of The Sovereign Fund of Egypt (TSFE), announced the comprehensive redevelopment plans for the Tahrir Complex and Ministry of Interior buildings. The redevelopment of the Tahrir Complex will encompass a hotel component, along with administrative and commercial facilities. Dr. El Said affirmed that the historical integrity of the building, particularly its facades, will be preserved in alignment with architectural heritage standards. The aim is to establish one of Egypt's most luxurious hotels by the end of 2025. These statements were made during her inspection tour of the ongoing development works at the Tahrir Complex and the Ministry of Interior building in downtown Cairo.

El Said elaborated on the meticulous criteria guiding the Tahrir Complex's development, which includes assessing the financial capacity and previous experience of the development company. Studies on traffic densities in the Tahrir area and other crucial factors have been conducted to ensure the complex's successful transformation. A committee comprising ministers of tourism, antiquities, and housing has established preliminary standards, with international expertise enlisted to determine the best uses for the Tahrir Complex building.

The Minister highlighted the Sovereign Fund's success in attracting a prestigious investment alliance for the Tahrir Complex development, marking their entry into the Egyptian market. This alliance, specializing in the rehabilitation and development of historical buildings, comprises American and Emirati partners. El Said expressed gratitude for their trust in the fund, especially amidst the challenges posed by the COVID-19 pandemic.

Emphasizing the symbolic significance of the Tahrir Complex, El Said underscored its transformation from a bureaucratic symbol to a beacon of efficient asset utilization and state resource management. She emphasized the Sovereign Fund's collaboration with domestic and foreign partners, aiming to maximize returns from transferred assets while fostering national and international investment partnerships and safeguarding future generations' rights. Aligned with Egypt's Vision 2030, the Sovereign Fund endeavors to achieve development and spatial justice by investing in various governorates, with several projects slated for announcement soon.

Regarding the redevelopment of the old Ministry of Interior building, El Said outlined its pivotal role in repurposing state assets, attracting foreign investment, and fostering private sector partnerships. The redevelopment plans include transforming the building into a complex featuring multiple innovative uses while preserving downtown Cairo's distinct character and adhering to environmental sustainability standards. The initiative aims to foster collaborations with foreign investors, international universities, hotels, business hubs, and startups.

El Said affirmed that the redevelopment of the Tahrir Complex and the Ministry of Interior underscores the commitment to preserving and revitalizing the historical capital, notwithstanding the transition to the administrative capital. Further projects in Khedivial Cairo are slated for announcement in the near future.

During the inspection tour, Minister El Said received briefings on the latest plans and technical details of the buildings. She viewed the Ministry of Interior building's envisioned shape post-development through 3D glasses and engaged with investors to discuss implementation stages and challenges.

Participants in the inspection tour included Ayman Soliman, CEO of Egypt's Sovereign Fund; Mohamed Abazeed, Legal Advisor to the Minister of Planning; Dr. Mohamed El Akkabi, Media Advisor to the Minister of Planning; Nahi Khalil, Head of Investor Relations Sector at the Fund; and Amr Elhamy, CEO of Egypt's Sub-Fund for Tourism, Real Estate Investment, and Antiquities Development.