The Sovereign Fund of Egypt, A Developments partner for Cairo’s innovation district project
The Sovereign Fund of Egypt (TSFE) and A Developments have signed an agreement for redeveloping and repurposing the Ministry of Interior’s (MoI) erstwhile Lazoghli headquarters in Downtown Cairo into an innovation district.
The mixed-use project involves an estimated total investment of 800 million Egyptian pounds by A Developments, TSFE said in a statement.
The development agreement was inked by Amr Elhamy, CEO of TSFE Tourism, Real Estate & Antiquities Subfund, and Magdi Kassabgui, Chairman of A Developments.
The MoI complex is located in the heart of Downtown Cairo and consists of a 7-building complex with a built-up area of 39,895 square metres.
The statement said the project is divided into several phases with the first phase expected to be completed by end of 2023.