Buildings of 13 Ministries Transferred to the Sovereign Fund of Egypt
The ministries affected by this decree will continue to occupy their current buildings rent-free until they relocate.
President Abdel Fattah El-Sisi has issued a decree, No. 13 of 2024, regarding the transfer of lands and buildings belonging to 13 ministries in central Cairo, including famous structures like the Foreign Ministry building in Maspero and the Ministry of Justice building in Lazoghli, to the authority of the Sovereign Fund of Egypt.
The transfer of ownership to the Sovereign Fund of Egypt aligns with the Fund Law, granting the President the authority to remove the public utility status of state properties and oversee their disposal through various means such as development, sale, leasing or investment. This approach has been implemented in the past with properties like the Tahrir Complex and the old Ministry of Interior building.
The ministries affected by this decree will continue to occupy their current buildings rent-free until they relocate to the New Administrative Capital or find alternative headquarters. The list of ministries includes prominent institutions such as the Ministry of Education, Ministry of Health and Population, Ministry of Tourism and Antiquities, and the Ministry of Transport.
These transferred lands and buildings represent valuable real estate assets situated in vital areas of Cairo, including Tahrir Square, Al-Qasr Al-Aini, Sayyida Zeinab, Al-Munira and Bab Al-Louq.
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Nov 04,2024
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