Arab Finance: The Egyptian cabinet has mandated the Sovereign Fund of Egypt (TSFE) to study the transfer of ownership of 15 unoccupied buildings, with the goal of preparing them for utilization and future investment offerings, as per a statement.

During the weekly meeting chaired by Prime Minister Mostafa Madbouly, the cabinet reviewed the ongoing relocation process of government headquarters following the transition to the New Administrative Capital.

The TSFE was instructed to proceed with necessary actions concerning already transferred properties and to study the feasibility of acquiring additional vacant buildings.

The cabinet also approved the continuation of work by the committee established under Prime Ministerial decree No. 2684 of 2023, which is tasked with relocating entities lacking available space in the New Administrative Capital.

The relocation process will be based on comprehensive feasibility studies and actual needs, including the potential use of buildings vacated by previously relocated entities.

Additionally, the cabinet approved issuing a circular requiring all ministries, agencies, and departments to secure vacated premises that have yet to be relocated, pending final decisions on their use.

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