Egypt inks deal with US consortium to develop Tahrir Complex

The consortium, comprising Global Ventures, Oxford Capital, and Al Otaiba Investments, has won a global tender for providing the best technical and financial offers

  
Aerial View of Cairo city. Image used for illustrative purpose.

Aerial View of Cairo city. Image used for illustrative purpose.

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Cairo - Egypt has signed an agreement with a US consortium to develop and rehabilitate Tahrir Complex with total investments of more than EGP 3.5 billion.

The consortium, comprising Global Ventures, Oxford Capital, and Al Otaiba Investments, has won a global tender for providing the best technical and financial offers, in addition to their great expertise in developing landmark buildings across the US and Europe, according to a recent statement by the Egyptian Cabinet.

The agreement is in line with the strategy of the Sovereign Fund of Egypt to rehabilitate Tahrir Complex for commercial, cultural, and administrative purposes and attract foreign investments and the government's vision to develop the downtown area.

The CEO of the Sovereign Fund of Egypt, Ayman Soliman, said that Tahrir Complex's development is based on a market study carried out by Colliers to achieve the highest revenues from the asset while making the best use of it.

Source: Mubasher

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