Egypt is preparing to unveil a master plan to revamp its historic center, which has been neglected for decades, as most government ministries have relocated to a new capital in the desert. The project aims to restore the architectural and cultural heritage of the area, as well as attract more investment and tourism.
The historic center, also known as Islamic Cairo, dates back to the 10th century and contains hundreds of monuments, mosques, madrasas, hammams, and fountains. It was declared a World Heritage Site by UNESCO in 1979 but has suffered from urban decay, overcrowding, and pollution.
The Sovereign Fund of Egypt, a state-owned investment fund, has taken over 14 former ministry buildings in the area, as well as several other properties owned by public entities. It plans to repurpose them for mixed-use development, including offices, apartments, hotels, museums, and cultural venues.
The fund’s chief executive, Ayman Soliman, told Reuters that the masterplan, which is expected to be ready in the coming weeks, will include traffic solutions, area surveys, and preservation guidelines. He said the fund will partner with private developers to finance and execute the projects while retaining a minority stake in them.
One of the most prominent buildings to be transformed is the Mogamma, a massive administrative complex that overlooks Tahrir Square, the epicenter of the 2011 uprising that toppled former president Hosni Mubarak. The building, which was notorious for its bureaucracy and inefficiency, will be turned into a hotel and a commercial center.
Another landmark is the former headquarters of the ruling National Democratic Party, which was torched during the protests and later demolished. The fund has not yet announced its proposal for the prime Nile-side location, but Soliman did not rule out the possibility of a skyscraper.
The fund is also developing the former interior ministry compound, which covers 18 acres in the heart of the city, into a business park and a three-star hotel. The project will cater to start-ups and tourism, as well as preserve the historic buildings and gardens within the complex.
The historic center’s makeover is part of a larger plan to modernize Egypt’s urban landscape, which has been championed by President Abdel Fattah el-Sisi. The government has moved to a lavish new capital, 45 km east of Cairo, which boasts a presidential palace, a parliament, a central bank, and a business district.
The new capital, which has yet to be named, is expected to house up to seven million people and cost about $58 billion. It is one of several new cities that the government is building across the country to ease congestion and boost the economy.
However, some critics have questioned the feasibility and sustainability of these mega-projects, as well as their impact on the environment and the existing urban fabric. They have also raised concerns about the lack of transparency and public participation in the planning process.
Soliman said the fund’s vision for the historic center is to revive its identity and vitality while respecting its heritage and diversity. He said the fund is working with local communities and stakeholders to ensure their involvement and benefit from the project.
He added that the fund hopes to start work on the ground within the first half of this year and that the project will create thousands of jobs and generate revenues for the state. He said the fund is confident that the historic center will regain its status as a global destination for culture and tourism.
“We’re getting done with the paperwork and from then on you’ll be seeing boots on the ground,” he said.
Source: Reuters
