Sovereign fund to acquire ministries’ headquarters after government move to New Capital

The Egyptian cabinet affirmed that the headquarters of the ministries will be acquired by the Sovereign Wealth Fund for developing and investments after the government moves to the New Administrative Capital mid-2021, according to the cabinet media center.

The fund represents a sovereign investment fund wholly owned by Egypt, has an independent legal personality and enjoys financial independence as well as administrative and financial edema independent of the State.

The fund aims boosting an added value to the national projects and create more opportunities to deep partnerships between the public and private sectors, he added.