Prime Minister Mostafa Madbouli on Saturday 11/02/2023 made an inspection tour of the important “Sun Capital” real estate project which is one of the first projects to be based on the public-private partnerships (PPP) model.

The Sun Capital partnership links the state represented by the Ministry of Housing and the New Urban Communities Authority with the private sector represented by a real estate developer.

The initiative was inspired by the economic conference organized by the Egyptian state in 2015, he said during a press conference.

Today, “we are reaping the benefits of the idea of collaboration with the private sector,” the premier said.

Stretching in full view of the Giza Pyramids, Sun Capital, includes not only a residential project but also a group of hotels that will be established at the highest level with more than 1,500 hotel rooms that will be added to Egypt’s hotel capacity to serve the pyramids and the Grand Egyptian Museum zone, as well as educational and commercial services, he added.

“I confirm that this is the model that the Egyptian state is following, attempting to collaborate with the private sector to go forward and launch its greatest possible power, Madbouli concluded”.

The prime minister was inspecting projects in the 6th of October City, including three major industrial projects; two of which are in the food industry, while the third is a pioneering project in the automotive industry.

He said that the state is doing everything it can to help the private sector contribute more to the Egyptian economy.

“My office is ready to take any ideas or complaints about challenges the private sector is experiencing to help to overcome all obstacles hampering business activities,” he added.

Source: State Information Service Egypt