Egypt transfers ownership of 13 closed govt. buildings to sovereign fund

Egypt approved transferring the ownership of 13 governmental buildings to The Sovereign Fund of Egypt (TSFE), according to presidential decree No.13-2024 published in the Official Gazette.

The decision comes to facilitate the future utilisation of the buildings, including sale, development, leasing, or investment.

The decision also includes the removal of public benefit status from the selected buildings, since the premises of the buildings have been relocated to the New Administrative Capital.

These building include that of the ministry of foreign affairs, as well as the ministries of justice, housing, tourism, and more.

All of the buildings included in the decision are located in downtown, Cairo.