TSFE
The reorganization comes after Minister of Planning, Economic Development, and International Cooperation Rania Al-Mashat's call on October 3 to position the fund under the cabinet.
Back in 2019, Soliman outlined an ambitious vision for TSFE, telling Reuters he aimed to “unlock value and create wealth.”
Soliman added that the priority in terms of location goes to the Mediterranean coasts, followed by those lying on the Red Sea, then the Suez Canal.
She noted that in spite of the anticipated economic growth deceleration in 2024 due to Middle East conflicts, the rate is projected to surpass regional average.
The transformation is scheduled to be over by the end of 2025.
The land lies on the Nile Corniche in Cairo.
The project was inaugurated Thursday by Prime Minister Mostafa Madbouli, as four out of five schools within the first phase have begun operation in the current academic year.
Increasing the private sector’s participation is a state priority, the Sovereign Fund of Egypt (TSFE) head was reported by local media as saying
Prime Minister Mostafa Madbouli held Thursday a meeting with the officials of The Sovereign Fund of Egypt (TSFE).
The Sovereign Fund of Egypt (TSFE) announced Wednesday signing a contract with Aya for Real Estate Development.
The official's statements came during an event held by the Ministry of Planning and Economic Development on alternative financing to sustainable development.
The acquisition will be structured as a capital increase that will increase the paid-in capital of the Bank to LE 5 billion, making it compliant with the regulatory requirements of the Egyptian Banking Law.
