The meeting was attended by Counselor Adnan Fangari,
Minister of Justice; Mohamed Shimi, Minister of the Public Business Sector;
Lieutenant General Ahmed Khaled Saeed, Governor of Alexandria; and Amr Attia,
Chairman of the Holding Company for Tourism. Officials from the Ministry of
Finance also participated via video conference.
Madbouly reviewed a preliminary vision to repurpose the
building as an investment opportunity. He underscored the importance of making
the best use of the Cotton Palace, located in Mansheya Square, opposite the
Unknown Soldier Memorial in Alexandria. The building enjoys a prime location
with strong tourism and commercial potential.
He noted that a decision had previously been issued to form
a committee to examine the building’s optimal use, in coordination with relevant
authorities. The goal is to resolve outstanding legal and administrative
issues, rehabilitate and evaluate the building, and develop a clear investment
strategy.
The Prime Minister also highlighted the building’s proximity
to key tourist and archaeological sites, as well as its location within a
financial and logistics hub, which includes Alexandria Port, transportation and
shipping companies, the Alexandria Chamber of Commerce, and the court complex.
Shimi stated that, per the Prime Minister’s instructions,
the building’s debts were documented, and its structural soundness was
reassessed. It was confirmed to be fit for use according to engineering
standards.
He also presented an initial concept for the internal layout
and use of the Cotton Palace, suggesting its potential development as a
mixed-use hotel, administrative, and commercial complex. He further outlined
the proposed investment plan for the building’s redevelopment.