Reported by the Reuters, Minister Hisham Tawfiq publicized during a business conference that the government is strategically planning to revive 150 impaired buildings, in Cairo, Alexandria and Port Said.
The Insurance Holding Company finalized its study of the plan, holding around 150 buildings classified as “historic”. This plan will be following the model of Al Ismaelia for Real Estate Investment. Minister Tawfiq stated that Al Ismaelia for Real Estate Investment, purchased 23 buildings in downtown, with a plan to renovate them inside out. In addition, to settling an agreement with the individuals and companies that used to rent these buildings.
