TSFE plans to transform Downtown Cairo into technology zone, startup incubator
Updated 2/14/2023 8:47:00 AM
Arab Finance: The Sovereign Fund of Egypt (TSFE) is planning to transform the downtown area in Cairo into a technology center and an incubator for startups, the fund’s CEO Ayman Soliman told Asharq Business in an interview on February 13th.
Soliman added, on the sidelines of the World Government Summit in Dubai, that Cairo’s downtown rehabilitation would contribute to raising exports of technology services in Egypt to $10 billion from $3 billion.
He revealed that major companies are interested in developing Downtown Cairo, and TSFE has already signed contracts with some of them.
Soliman did not disclose the name of these companies.
Among the headquarters that will be shared with the private sector in Downtown Cairo are the buildings of the ministries of interior and youth, he revealed, adding that the list may also include the tourism ministry’s building.
“These buildings will be evacuated and we have specific partners who have submitted feasibility studies to develop the uses of these buildings," Soliman said
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