Egypt's government denies selling Tahrir complex to investors

CAIRO – 16 April 2021: Egypt’s Cabinet denied reports claiming that the Egyptian sovereign fund (Tahia Masr Fund) would sell the state-owned Tahrir Complex to foreign investors, announced the Media Center of the Cabinet in a statement.

 

The complex is not for sale to any Egyptian or foreign investors and it is completely owned by the fund.

 

After contacting officials at the Tahia Masr Fund, the Cabinet said that the fund affirmed that the Tahrir complex will be developed in cooperation with partners, not investors.

 

Those partners’ role is to only develop the complex to be a multi-purpose building, the cabinet added.

 

The Gamal Abdel Nasser-era structure overlooks the square, attracting thousands of visitors a day to finish paperwork. The square, which is close to the Nile Corniche, leads to several landmarks, including the Egyptian Museum, the Khedive-era downtown, Qasr el-Nil Bridge, and other areas that are all important tourist attractions.

 

The government also aims to turn the complex into a large shopping mall, with the first floors used as a garage, the middle floors dedicated for banks and restaurants, and the upper floors used as a hotel to better benefit from the magical view.