The meeting was attended by Engineer Hassan El-Khatib, the Minister of Investment and Foreign Trade, businessman Hisham Talaat Moustafa, member of the Advisory Committee for the Development of Egyptian Tourism, Dr. Baher El-Shaarawy, Vice Chairman of the Board of Directors of the Urban Development Fund, Ghada Nour, the Assistant Minister of Investment, Engineer Moustafa Abdel Wahab, Vice Chairman of the Board of Directors of the Urban Development Fund, and Noha Khalil, the Executive Director of the Sovereign Fund of Egypt.
During the meeting, the Prime Minister emphasized the
urgency of offering the Ministries Square area to the private sector,
particularly for tourism-related projects. He noted the instructions given to
the Ministry of Investment and recognized Hisham Talaat Moustafa's valuable
insights and proposals for the area's development, drawing from his expertise
on the Advisory Committee for the Development of Egyptian Tourism. These
contributions are expected to be crucial in maximizing the potential of this promising
location.
Engineer Hassan El-Khatib highlighted ongoing efforts to maximize returns from the Ministries Square area and the Sovereign Fund of Egypt's broader asset portfolio. He affirmed continuous engagement with investors across various sectors. He then reviewed the Ministry's measures, through the Sovereign Fund of Egypt, to enhance the utilization of several state-owned assets.
The Minister elaborated, stating: "We are compiling
ideas and visions from experts regarding the offering of the 'Ministries
Square' area and the optimal exploitation of the downtown area, while
preserving its architectural character and cultural significance."
During the session, Hisham Talaat Moustafa presented
development ideas for the Ministries Square area, aiming to maximize its
benefits and generate increased revenues for the Egyptian government. He
emphasized the need for a clear and integrated vision for its planning and
utilization. This vision, he noted, should align with the government's
objective of increasing hotel room capacity in the downtown area to meet
growing tourist demand. He also stressed the importance of decisions that would
enhance the area's attractiveness to tourists and major hotel chain investors.
Dr.Madbouly responded, stating that urban and planning
studies for optimal downtown area utilization have been completed and will
inform the offering memorandum.
Concluding the meeting, the Prime Minister tasked a working group of relevant ministry and authority representatives to finalize the offering memorandum, ensuring it clearly addresses all potential private sector investor inquiries.