The Sovereign Fund of Egypt (TSFE) intends to offer investors, from within Egypt as well as abroad, terms of conditions for developing the Tahrir Complex, according to its CEO Ayman Soliman.
Soliman added that the terms of conditions, which will be released in the coming days, includes providing hotel and tourism services and other benefits to develop the project.
“Egypt had succeeded in injecting much foreign and Arab capital, and this was a testament to the confidence in Egypt that it is currently exploiting, especially since the country has a wide appetite for investment in infrastructure,” he said.
Soliman further elaborated that the TSFE aims to achieve sustainable long term financial returns by establishing a group of sub-funds to attract investors and partners from inside and outside the country.
“We are currently working on many projects in several different sectors, especially as there are directives after crowding out the private sector in projects that are being implemented,” he added.
Soliman stressed that the fund is working to provide a product, which is the re-exploitation of untapped assets, from a broad perspective, by directing strong investments to work in field of infrastructure.
Real estate investment is one of the main pillars on which the fund is based, through tourism development in cooperation with Ministry of Tourism and Antiquities.
This cooperation aims to develop Egypt’s tourist areas, given that the country possesses a significant glut of such potential that makes it a unique destination in terms of tourism, Soliman concluded.
The TSFE was established three years ago, and aims to encourage sustainable economic development and achieving the state’s plan.
The fund works to implement Egypt’s Vision 2030, by increasing investment, operation and optimal use of the state’s assets and resources. This works to maximise their value and provide a strong impetus to development and preservation the rights of future generations.