Counselor Mohamed El-Homsani, the official spokesperson for the Egyptian Cabinet, announced that discussions have been held regarding investment opportunities in the Downtown Cairo area, which is considered one of the key development zones due to the presence of numerous facilities associated with state sectors, including the Ministry of Public Business Sector.
El-Homsani explained that there is potential to convert some of these state-affiliated buildings into hotels in the Downtown area, noting the noticeable shortage of hotel rooms in this central district.
The Cabinet spokesperson added that several model projects have been proposed for this purpose, such as the Cosmopolitan Building, Omar Effendi Building, and Shamela Building, along with a large number of other properties that are already suitable for conversion into hotels. He also mentioned that similar opportunities exist in other governorates such as Alexandria, as well as in other locations across Cairo and Giza.
He clarified that the main goal of these measures is to maximize the utilization of state assets without selling them, ensuring that the state retains ownership of its properties while expanding partnerships with the private sector.
Regarding the redevelopment process, El-Homsani emphasized that the architectural heritage and historical character of these buildings will be preserved, with no demolitions planned. The process will focus solely on converting the usage of the buildings from their current functions to hospitality purposes while maintaining their original design and external appearance.
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