The Sovereign Fund of Egypt (TSFE) and A Developments have signed an agreement to revamp the Ministry of Interior’s Lazoghli headquarters in Downtown Cairo to an innovation district, according to a statement by TSFE.

A Developments was awarded the project following a bidding offer that was shared in April 2022 by TSFE to redevelop Ministry of Interior building in Lazoghli district, known as AlMogamma, and develop an innovative project in the whole area.

The mixed-use project includes retail, technology hubs, incubators, office spaces, an international Business Process Outsourcing (BPO) hub and hospitality. The project is located in the heart of Downtown Cairo and consists of a 7-building complex on an area of 39,895 square metres.

Egypt’s Sovereign Fund aims at developing an integrated mixed-use scheme with green and innovative features.

The first phase  is  expected to be completed by end of 2023 , according to the statement.