The Cairo Stadium Authority has begun to take steps toward transforming into a profitable facility according to the 2018 presidential decree.
Ali Darwish, executive director of the Cairo Stadium Authority, told Daily News Egypt that the authority, headed by Minister of Youth and Sports, Ashraf Sobhy, has put a plan to turn the stadium into a sports city.
He added that the Cairo Stadium Authority has formed committees to supervise and work on the project, in parallel with the development process taking place at the main stadium which is preparing to host the opening ceremony and the matches of the Africa Cup of Nations next month.
The Cairo Stadium Authority held its second meeting after the formation of its board of directors, which includes Abdel Aziz Hashim, Hussein El Samri, Amr Belbaa, Mohamed Zoroma, Hisham Mosbah, Gamal Afifi, Walid Amin, and Ali Darwish.
The meeting discussed a number of important topics, including the transformation of the stadium from a service agency to an economic body, and the required budget of the project.
The authority seeks to implement the sport city project, which will include a 16,000 sqm lake, dancing fountain, five-star chain of restaurants, sports museum, cinematography complex, commercial space on a total area of 96,000 sqm, underground parking, gallery, entertainment area for children on 100,000 sqm, waterway, and coffeeshops.
A government source estimated in a previous statement to DNE the cost of the project at about EGP 7bn.