The Egyptian Minister of Investment and Foreign Trade, Hassan Al-Khatib, visited the former Ministry of Interior building in Cairo’s Lazoghli area on Thursday to review progress on its redevelopment by Reliance Real Estate Development Company. The project, one of the Sovereign Fund’s flagship initiatives, aims to repurpose state assets, maximize their value, attract foreign investment, and foster partnerships with the private sector.

The redevelopment will transform the historic site into a comprehensive service complex featuring a Marriott-managed hotel, serviced apartments, a creativity center, office and administrative spaces, retail outlets, food and beverage venues, entertainment facilities, and cultural program areas, all centered around a spacious plaza.

The project seeks to revitalize downtown Cairo while preserving its cultural and historical identity. The site includes the Sabil of Sherif Pasha, built in 1913, which adds a unique heritage element to the development.

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Once completed, the complex will offer 364 hotel rooms, 35 commercial units, and administrative and recreational spaces spanning 20,000 square meters. It is projected to create 3,000 direct jobs and 10,000 indirect jobs, with completion scheduled for the first half of 2027.

During the project inspection (X).

Al-Khatib highlighted the project as a key example of the Sovereign Fund’s strategy to leverage unused state assets for revenue generation and job creation. “The goal is not to sell, but to maximize returns from state assets, strengthening the state budget while preserving resources for future generations,” he said.