US alliance wins bid to develop and rehabilitate Cairo’s Tahrir complex

The total investments that will be injected into the development process of Tahrir complex amount to $222mln

  
The Ramses II obelisk is seen after the renovation of Tahrir Square for transferring 22 mummies from the Egyptian Museum, in Tahrir, to the National Museum of Egyptian Civilization, in Fustat, amidst the outbreak of coronavirus disease (COVID-19), in Cairo, Egypt, April 1, 2021. Image used for illustrative purpose.

The Ramses II obelisk is seen after the renovation of Tahrir Square for transferring 22 mummies from the Egyptian Museum, in Tahrir, to the National Museum of Egyptian Civilization, in Fustat, amidst the outbreak of coronavirus disease (COVID-19), in Cairo, Egypt, April 1, 2021. Image used for illustrative purpose.

REUTERS/Mohamed Abd El Ghany
RIYADH: An alliance of US firms which includes Global Ventures Group has won the contract to develop and rehabilitate Cairo’s Tahrir complex.

The coalition of companies, also featuring Oxford Capital Group and Al Otaiba Investment Co., came after a bidding process, said Hala Al-Saeed, Egypt’s minister of planning and economic development.

Al-Saeed added the agreement reflects the strategy of the sovereign fund in developing and exploiting assets to achieve the highest return.

The total investments that will be injected into the development process of the Tahrir complex amount to more than 3.5 billion Egyptian pounds ($222 million).

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