Egypt’s Sovereign Wealth Fund signs an agreement to develop “Bab Al-Azab” area
First cooperation project between The Sovereign Fund of Egypt and The Supreme Council of Antiquities
The Supreme Council of Antiquities and the Sovereign Fund of Egypt signed a contract to develop and manage the provision of services to visitors of the “Bab Al-Azab” area of Salah al-Din al-Ayyubi’s historic Citadel.
The Council will solely manage the historic site while the Fund will manage the operations and services in the Bab Al Azab site which reflects the new collaboration between both parties to revive the area and increase its historic and economic value.
This step is considered the first investment project for the Sovereign Fund of Egypt in the tourism and services sectors, in cooperation with the Ministry, which will include the complete development of the “Bab Al-Azab” area in the Citadel to provide services to its visitors.
Opening an unutilized area of the Citadel to the public after reviving it will place it on the list of historic and cultural tourist attractions and provide cultural services to the area, in addition to establishing and operating traditional markets and handicraft shops, theaters and cultural events.
