Cairo – Mubasher: The Egyptian government has granted the Golden License, in coordination with the General Authority for Investment and Free Zones (GAFI), to Nilus for Hotel and Commercial Services as well as Nilus for Residential Services, which were awarded the development of the National Democratic Party’s land plot in Cairo.
The hotel services company will establish a hotel, commercial, and administrative tower of 75 floors, according to the Egyptian Gazette.
Meanwhile, the residential services firm will carry out a residential tower comprising 446 luxurious units over 50 floors.
The land plot spans approximately 3.95 feddans, equivalent to nearly 16,612 square metres, and is situated on Nile Corniche, next to the Egyptian Museum in Cairo.
The timeframe for the two projects forecasts completing them in the second quarter (Q2) of 2028.
The Golden License provides investors with a single approval encompassing the establishment, operation, and management of projects, including the necessary building and land allocation permits.
It aims to facilitate and attract investment in strategic, national, and partnership-based projects between the private and public sectors.
