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The Sovereign Fund of Egypt, A Developments partner for Cairo’s innovation district project

$26mln project involves redevelopment of Ministry of Interior’s former headquarter complex.
29.03.23 | Source: Zawya

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.