Offering assets on the Nile River in Cairo and Giza to investors.. Details

The Egyptian Cabinet reviewed a number of assets that are located in the governorates of Cairo and Giza, and enjoy a view of the Nile River, with the aim of benefiting from them and offering them for investment.

Ambassador Nader Saad, spokesperson for the Egyptian Presidency of the Council of Ministers, said in a statement that these assets were classified according to a number of priorities, including the transfer of ministries and affiliated bodies to the new administrative capital.

In light of the state's efforts to increase the number of hotel rooms, the Sovereign Fund of Egypt is working on evaluating assets, including lands and buildings, through global evaluators. With a view:

• Start marketing it

• Establishing investment projects on it.

• These assets are considered to be in distinct areas on the Nile River

• There is a request from a number of investors to make investments in these projects.

Saad added, that the government has reviewed distinguished assets belonging to a number of government agencies that have not been transferred to the New Administrative Capital, with the aim of maximizing their utilization and exploiting them in better ways.

Officials of the Sovereign Fund of Egypt revealed the steps taken to transfer a number of these assets to the fund, with the aim of promoting them with local and foreign investors. They also reviewed a number of assets that will be transferred during the coming period, including old buildings for ministries or their affiliated agencies.

$10 billion in foreign direct investment

Egypt seeks to enhance direct foreign investment flows during the current period. A few weeks ago, Mohamed Maait, the Egyptian Minister of Finance, said in a conference in front of investors and businessmen in the Saudi capital, Riyadh, that his country targets $10 billion in foreign direct investment during the current fiscal year, compared to $8.9 billion in the last fiscal year.

Starting work in the new administrative capital

On the other hand, Dr. Hani Sweilem, Minister of Water Resources and Irrigation, started work from his office in the New Administrative Capital.

Preparations are in full swing for the final transfer of the ministry's bodies and sectors to the new administrative capital, in implementation of the directives of the political leadership.

Sweilem said that the government buildings in the Administrative Capital keep pace with the times and provide a better environment for work and production, with more advanced capabilities that meet the requirements of digital transformation, as the buildings have the best technologies and the latest technological systems to keep pace with the developments of the times.