Back to the complete issue
Thursday, 1 December 2016

Egypt’s former consulate in San Francisco is among the city’s most expensive real estate

It’s also a slow morning for Egypt in the international press (not that we’re complaining), with perhaps the most notable piece being Patrick Werr’s piece for the UAE’s The National on the so-called automotive directive, which offers domestic auto assemblers protection from what they have called “unfair” Turkish, Moroccan and European Union imports in return for their going further up the value chain into manufacturing. Werr argues against the measure, which he said will ultimately “benefit a tiny group of businessmen at the expense of consumers and the country as a whole,” declaring that, “this is classic infant industry theory, a concept that has long been discredited, no less than in Egypt’s very own automobile industry.”

Elsewhere: Oren Kessler’s look at “Egypt’s Unlikely Ardor for Trump” in Foreign Affairs (registration required) is certainly worth a read. Kessler argues that Hillary Clinton was never the pro-Ikhwan enemy of Egypt she was made out to be but, at the end of the day, notes: “For Cairo, Clinton would have brought a continuation—or even exacerbation—of Obama-era bad blood. But Trump’s apparent positions, when taken together, made him a near-ideal candidate. U.S. policymakers seeking smoother diplomatic, security, and strategic ties with Egypt can thus take heart. Those hoping the White House will continue to pressure its ally on civil rights and the rule of law may well be in for disappointment.”

Also notable this morning: The defense and foreign affairs editor of London’s Telegraph takes to the Wall Street Journal to write a guest op-ed on “Britain’s Muslim Brotherhood Whitewash,” one of the more refreshing looks at the story we’ve seen in the Western press. Elsewhere in the Journal, we learn that the former Egyptian consulate in San Francisco is on the market for USD 22 mn and is “one of the city’s most expensive residential properties.” Egypt bought the property back in the 1960. Tarek Amer looks forward to your deposit, ladies and gents of the foreign service. (Friends of served at the consulate: May we feel nostalgic on your behalf?)

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of HSBC Egypt (tax ID: 204-901-715), the leading corporate and retail lender in Egypt; EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Mashreq (tax ID: 204-898-862), the MENA region’s leading homegrown personal and digital bank; Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt; Hassan Allam Properties (tax ID:  553-096-567), one of Egypt’s most prominent and leading builders; and Saleh, Barsoum & Abdel Aziz (tax ID: 220-002-827), the leading audit, tax and accounting firm in Egypt.