Cairo: Prime Minister Mostafa Madbouly highlighted ongoing efforts to quickly offer the old ministries district in downtown Cairo to the private sector, particularly for tourism purposes. This was discussed during a meeting on Sunday to follow up on plans to maximize the benefits of the area, attended by state officials including Minister of Investment and Foreign Trade Hassan el Khatib, businessman Hisham Talaat Moustafa, and others. Madbouly welcomed ideas and suggestions from Moustafa, a member of the Egyptian Tourism Development Advisory Committee, which could help enhance the area’s potential.

According to State Information Service Egypt, the minister of investment reviewed efforts to increase returns from the area that used to house the government headquarters and other assets of the Sovereign Wealth Fund, noting continuous contacts with various investors to serve this purpose. Khatib also shared steps his ministry, through the Sovereign Fund, is taking to optimize the use of state assets, including gathering input from experts on how to best utilize the area while preserving its architectural value.

Moustafa suggested a comprehensive vision for developing the place to increase downtown Cairo’s hotel room capacity to meet the growing demand from tourists, as well as for attracting investments there. The premier said that prior urban and planning studies have been conducted for the optimal utilization of downtown Cairo, and these studies will be leveraged during the preparation of the document to offer the area for investors. He instructed that a task force from the relevant ministries and authorities finalize this document, ensuring it addresses all inquiries from private sector investors to give them clear answers.