Egypt has given the green light for the transfer of ownership of 13 governmental buildings to The Sovereign Fund of Egypt (TSFE), as per presidential decree No.13-2024 published in the Official Gazette.
The objective behind this decision is to streamline the future utilization of these buildings, allowing options such as sale, development, leasing, or investment.
Additionally, the decree involves the removal of public benefit status from the selected buildings. This move is prompted by the relocation of the building premises to the New Administrative Capital. Among the structures affected are those housing the ministries of foreign affairs, justice, housing, tourism, and more.
All the buildings covered by this decision are situated in downtown Cairo.