Back to the complete issue
Thursday, 22 October 2020

Shamara Holding eyes partnership with SFE to develop former NDP HQ land

Iraq’s Shamara wants to get in the redevelopment of the former NDP headquarters with the SFE: Iraqi conglomerate Shamara Holding is interested in working with the Sovereign Fund of Egypt (SFE) to develop the land where the headquarters of the dissolved National Democratic Party used to stand, Al Mal reports, citing unnamed sources familiar with the negotiations. The prime Nile-side land was earlier this year transferred to the SFE following a presidential decree that provided the fund more control over management of state assets. The development of the land comes as part of the SFE’s planned joint redevelopment of Old Cairo with the private sector, which includes the Mogamma El Tahrir building and the downtown Interior Ministry headquarters.

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; Etisalat Misr (tax ID: 235-071-579), the leading telecoms provider in Egypt; and Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt.