Planning Minister announces the evacuation of Tahrir complex in preparation for its development

Dr. Hala El-Said, Minister of Planning and Economic Development said that The Sovereign Fund of Egypt (TSFE) aims to implement the state's plan to achieve sustainable development.
El-Said added that TSFE maximizes the value of untapped assets in the Egyptian state, noting that among the untapped assets that have been assigned to the fund is the Tahrir Complex, explaining that it is being studied to convert it into an investment product.El-Said explained that the private sector is encouraged to participate in the development of untapped assets, confirming that the memorandum of the Tahrir complex will be presented so that developers and investors can apply to implement the development process.She indicated that Cabinet had evacuated the remaining halls of the complex from the employees and departments present in it.El-Said pointed out the historical site that the Tahrir Complex enjoys, explaining that it will become a multi-purpose place, including a hotel and a commercial part, after studying traffic density, hotel capacity, and the quality of the target audience.She pointed out that the state contributes to the land and studies, provided that the investor and the developer participate with the money and then become a partner in the ownership of the place, announcing that contracts will be made with the developers in the last quarter of the year after receiving all the requests, and discussing all the offers submitted.El-Said said that the investments of TSFE are diversified and aim to maximize untapped assets and achieve sustainable development in line with the priorities of the Egyptian state.El-Said indicated that there is a 30% increase in investments this year despite the emerging coronavirus crisis, while inflation was less than 5%, stressing that the expected economic growth for the current year is 2.8% in the affirmative.