“TSFE” plans to transform "Downtown" into a technology zone
Details of the state's plan for the Liberation Council, the National Party, and the Ministry of Interior.
Shrouq
The Sovereign Fund of Egypt (TSFE) intends to transform the downtown area in Cairo into a technology center and an incubator for startup companies to contribute to raising exports of technology services in Egypt from 3 to 10 billion dollars.
Transforming downtown into a technology district
Ayman Suleiman, CEO of the Fund said that "The buildings we have in the city center will be converted to serve this purpose, we have major companies interested in contributing to this project, and we have signed contracts."
The Sovereign Fund of Egypt owns large assets in the downtown area, including the land of the National Party, the Tahrir Square, and the Ministry of Interior building.
The current development of the Liberation Complex aims to serve the business community, especially since the area is considered attractive to business tourism.
buildings to be used
Among the headquarters that will be shared with the private sector in the center of the country is also the building of the Ministries of Interior and Youth, and the list may include the headquarters of the Ministry of Tourism in the Zamalek region, as "these buildings will be evacuated, and we have specific partners who submitted feasibility studies to develop the uses of these buildings."
private sector
Egypt seeks to enhance the participation of the private sector to accelerate the pace of economic growth by offering government companies on the stock exchange and through direct participation with major investors.
Soliman added, who expects the fund's assets to double from 30 to 60 billion pounds
Importance of technology cities
The idea of developing the downtown area, and turning it into a technological and smart area that includes startups, comes within the framework of the state’s resort to establishing 30 fourth-generation cities.
This gives the country advantages in terms of civilization, including reducing carbon emissions, in addition to providing these cities with technological infrastructure and communications.
