SFE to reach deal with private sector to repurpose Mogamma Tahrir

To repurpose the Mogamma Tahrir building by the third quarter of 2021

  
A general view shows Tahrir Square, after its renovation, following the outbreak of the coronavirus disease (COVID-19), in Cairo, Egypt July 13, 2020. Image used for illustrative purpose.

A general view shows Tahrir Square, after its renovation, following the outbreak of the coronavirus disease (COVID-19), in Cairo, Egypt July 13, 2020. Image used for illustrative purpose.

REUTERS/Mohamed Abd El Ghany

ArabFinance: The Sovereign Fund of Egypt (SFE) is forecast to reach a deal with a private sector partner to repurpose the Mogamma Tahrir building by the third quarter of 2021, Planning Minister and SFE Chairperson Hala El Said revealed in a recent statement.

El Said added that the agreement will prioritize the fastest route to execution possible.

She further noted that the fund has the conditions booklet for the public-private partnership project to investors and foreign and local real estate developers.

On April 5th, the CEO of SFE Ayman Soliman said that the fund will issue the conditions booklet in April.

In March, the fund uncovered plans to roll out its real estate assets into one new entity, which will go for an initial public offering on the Egyptian Exchange.

As regards Mogamma Tahrir, the fund will give prospective private-sector partners a four-month window to purchase the booklet and present their bids on the project.

The building will see an iconic building transformed into a multi-purpose building, with a portion turned into an apartment hotel and others used for commercial purposes.

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