The Mugamma of El-Tahrir will be transformed into a “world class” hotel.
Egypt’s “most hated building” will soon undergo a transfiguration, much to the surprise of the country’s citizens.
On Tuesday, August 9, the Sovereign Fund of Egypt (TSFE) signed a new partnership agreement with the US-Emirati international consortium CairoHouse to transform the infamous Tahrir Square Complex Building, commonly known as Mugamma El-Tahrir, into a large luxury hotel.
Comprised of US investment and development groups, Global Ventures and Oxford Capital, as well as UAE’s Al Otaiba Investment, CairoHouse signed a $ 200 million (EGP 3.5 billion) contract with the Sovereign Fund in December and the Egyptian Ministry of Planning 2021
The contract followed their victory in an attempt to obtain the rights to “reuse” the building. The offer included leading the development, renovation and management of the historic complex, which had long been associated with the Egyptian bureaucracy since its founding in 1951.
According to Global Ventures Group founder Randall Langer, the hotel is expected to be completed within 31 months, by the end of 2024. The Lebanese-owned Consolidated Contractors Company (CCC) will serve as the general contractor for the project.
“We are honored to partner with the Sovereign Fund of Egypt to develop the Tahrir Complex as one of the world’s distinctive landmarks and one of Egypt’s architectural treasures,” said Langer according to Al-Ahram.
“We are also proud of our contract with this distinguished group of companies that will ensure the successful development of this iconic building.”
The project is expected to contain more than 450 luxury hotel rooms and apartments, various restaurants and venues for meetings and events. A “pyramid shape” will be built at the front of the complex, to serve as a symbol of the preservation of Cairo’s visual identity, showing the legacy of the past and contemporary innovation.
Tahrir, located in the heart of Cairo, is already home to some illustrious hotels, namely the Nile-Ritz Carlton and the St. Regis, which cast doubts on whether an additional hotel would be a guaranteed investment.
In 2020, an article by MadaMasr, an independent Egyptian newspaper, hypothetically reimagined the building, renowned for building boring bureaucratic administration, as a multi-layered space providing affordable housing, a public library, an e-government center. and a luxury hotel.
Still, one aspect seems to have prevailed.
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