The Egyptian government began implementing an investment plan for old government buildings in the center of the country, after the transfer of ministries and government agencies to the new administrative capital, in a move aimed at reviving the region and turning it into a tourist and investment destination comparable to European capitals, which will achieve huge dollar returns for the Egyptian economy.
The plan includes converting a number of historical government buildings into tourist hotels and facilities while preserving its heritage and architectural character, which gives the region a modern character without prejudice to its ancient history.
The government is currently working on studying investment offers from private sector companies and Arab and foreign investment funds, while setting strict conditions to preserve the heritage value of buildings, as the amendments will be limited to internal designs only without prejudice to the external form.
The editorial complex will be the first project to be offered for investment, as it will be converted into a luxury tourist hotel with international designs, taking into account the historical and architectural dimension of the building.
The government is also studying offering a number of other buildings in competitive auctions, which provides an opportunity for investors to obtain strategic sites at a lower cost than building new facilities, which will make investment in these projects more attractive.
It is expected that this step will contribute to stimulating tourism, increasing the revenues of foreign investment, and attracting more visitors and tourists to the heart of Cairo, to become a vibrant area of the country, competing with major global destinations, which enhances Egypt’s position as a major tourist and investment destination.
