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Housing Ministry prepares investment opportunities to be presented to Tharaa: Minister - Daily News Egypt

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Housing Ministry prepares investment opportunities to be presented to Tharaa: Minister

The ministry plans to offer new lands through Beit Al Watan project in New Cairo and New Mansoura

Minister of Housing, Utilities, and New Urban Communities Assem El-Gazzar said that the ministry is preparing a list of projects to be presented to Egypt’s Tharaa — the country’s new sovereign wealth fund in the coming period.

On the sidelines of his participation in the Africa Investment Forum 2019 in the New Administrative Capital (NAC), El-Gazzar told Daily News Egypt that the ministry is seeking to cooperate with the Tharaa to implement joint projects, without disclosing any details.

He pointed out that the ministry intends to offer new lands within the project of Beit Al Watan in the cities of New Cairo and New Mansoura during the coming period.

He revealed that the ministry has received many requests from private investors to implement projects in partnership with the state, all of which are under study.

The minister did not disclose the number of requests received by the ministry for implementing projects in partnership. “We will announce the agreements when they are finished, but we can say that there are negotiations with a large number of investors.”

He stated that the ministry is moving steadily in partnership projects with the private sector, and it is close to completing the second phase of those projects.

“There are two contracts in the second phase of partnership projects that are still under negotiation with investors, we are working on them to reach a final agreement,” he added.

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