Egypt's Mogamma El-Tahrir will be converted into a luxury hotel, according to a plan unveiled recently by the Egyptian government.
The oldest administrative building in the heart of downtown Cairo will become a focal point of foreign investments, said the government. The development plan will change the name of the Tahrir complex to “Cairo House”.
Designed by Chicago-based architect RATIO, the CairoHouse will feature more than 450 luxury hotel rooms and serviced apartments, and numerous world-class dining and entertainment venues.
A consortium of American-Emirati companies won the bid recently to turn Mogamma into a tourist and commercial project.
The deal is worth $225m and will be implemented within the next two years, opening the door for the first partnership with Egypt's Sovereign Fund the investment arm of the Egyptian government, which owns the Mogamma, along with the Egyptian state's other real estate assets which include massive plots of land and buildings across Egypt.
Speaking to the media outlets, Cairo's deputy governor, Ibrahim Abdel Hadi said: "This is an important deal that will add value to one of the most important buildings in Cairo," adding that the Mogamma's location and nature make it fit plans to turn it into a wonderful hotel."
The Mogamma was the result of a series of master plans for the Qasr el Nil area (now Tahrir Square), which used to be occupied by the British barracks. In 1945 when King Farouk ordered the demolition of the barracks upon the departure of British troops from the area, a series of urban planning proposals ensued.
The idea for a centralized, all-in-one administrative building emerged from the 1945 plans. Construction began in 1946 and ended in 1949.