Egypt to open Nile Corniche lands to private investors, says PM
Assalamu alaikum - Egypt plans to offer prime parcels along the Nile Corniche to private investors to make better use of state land and raise government income, Prime Minister Mostafa Madbouly announced.
At a meeting in the New Administrative Capital, Madbouly asked officials to speed up efforts to convert lands and buildings overlooking the Nile into investment projects. Authorities have identified 110 sites along the Corniche in Cairo (about 430 acres) and 82 sites in Giza (about 315 acres).
This comes after the government recorded a large primary budget surplus of 629 billion Egyptian pounds ($13 billion) for the 2024–2025 fiscal year, even though Suez Canal revenues fell by about 60 percent.
The plan is part of wider industrial and economic development moves. Last month the government offered 1,386 ready industrial plots across 23 governorates and 35 industrial zones (totaling 6.8 million sq. meters) to attract both local and overseas investors.
Officials said the prime minister asked that work be accelerated to turn these Nile Corniche lands into investment opportunities for various activities. He also clarified matters such as height limits, pricing, permitted activities, and the steps needed to obtain the required licenses to start operations.
A geographic database has been prepared detailing state assets along the Corniche in Cairo and Giza, showing jurisdiction, current occupants, and how each piece of land is used. The meeting reviewed a report that records each plot’s area, administrative oversight, land features, and present use.
May Allah make efforts to benefit the people and bring wholesome development.
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