Prime Minister Dr. Mostafa Madbouly held a meeting to review the investment opportunities available in the tourism and construction sector, attended by Eng. Mohamed Shimy, Minister of Public Business Sector; Amr Attia, head of the Holding Company for Tourism and Hotels; and Eng. Mostafa El-Kady, CEO of Emaar Misr for Development.
The Prime Minister stressed the importance of making optimal use of state assets, developing them and maximizing the benefit from them, particularly in the tourism sector, with the aim of increasing hotel rooms and doubling tourist numbers.
Madbouly said the aim of this meeting was to review investment opportunities in the tourism sector, adding: "We encourage partnership with the private sector, in accordance with the State Ownership Policy Document, with the aim of injecting investments to develop these assets and achieve optimal, well-governed management of them."
In light of this, the Minister of Public Business Sector explained that the ministry attaches great importance to maximizing the benefit from its affiliated assets, developing them and investing them optimally in a way that achieves significant economic and tourism returns for the state.
During the meeting, the minister reviewed investment opportunities in the tourism and construction sector, addressing assets that can be used for hotel projects and the investment opportunities available at companies affiliated with the Ministry of Public Business Sector in this sector, which include:
The Cosmopolitan Building, owned by EGOTH, which features distinctive and unique architectural details of growing historical and cultural value, offering a point of attraction and marketing that modern hotels cannot match.
The Chemla Building, owned by Sednaoui and Sale of Manufactured Goods Company, which features a strategic location in the heart of Khedivial Cairo, allowing it to be converted into a hotel and serviced apartments.
The Omar Effendi building on Abdel Aziz Street, which enjoys a prime location in the center of Khedivial Cairo, which is currently being revived to restore it to its former glory, and also benefits from the availability of various services and easy transportation.
The Omar Effendi Adly branch building, which also enjoys a strategic location, with the minister noting that the proposed project involves developing and converting the "Omar Effendi" building on Adly Street from a commercial building into a tourist hotel.
The Omar Effendi Hegaz branch building in the Heliopolis district, a proposed project to develop and convert it from a commercial building into a tourist hotel and serviced apartments.
The proposed project to develop and convert the Omar Effendi building on Murad Street in Giza from a commercial building into a tourist hotel and serviced apartments.
The Saad Zaghloul buildings in Alexandria, which enjoy a prime location directly on the Mediterranean shore at Saad Zaghloul Square, making them suitable for establishing a hotel.
As for hotels:
Reviving the Continental Hotel to restore its distinctive character to what it once was.
The Misr Tourism Tower in Abbassia Square, an area that benefits from various facilities and easy access.
The Cleopatra Hotel.
The Cotton Palace building, which enjoys a vital location in terms of tourism and is close to many tourist and archaeological sites in the city of Alexandria.
Regarding the investment opportunities available in land, the minister pointed to the availability of a number of land plots, including:
The Carnelia Beach project in Marsa Alam, Red Sea Governorate, with a total area of about 386,000 square meters fully overlooking a beach about 1,000 meters long; the first phase, covering about 90,000 square meters, is currently being developed.
A plot of land behind the Constitutional Court on the Maadi Corniche.
The Rokn Farouk land, located on the Helwan Corniche.
"Capital View", located on the upper plateau in the Mokattam area.
"Heliopolis City" in New Heliopolis City.
The Aga Khan land on the Nile Corniche in Shubra.
The Minister of Public Business Sector explained that the ministry has already presented these available investment opportunities to a number of Egyptian and non-Egyptian investors, as part of the promotion plan to attract investment partnerships with the private sector, according to the official Facebook page of the Egyptian Cabinet.
