The Egyptian cabinet approved a 30-year licensing agreement for an industrial development company to build and operate a 652-acre integrated logistics zone adjacent to the Salloum land port, the government announced on Wednesday.
During the meeting chaired by Prime Minister Mostafa Madbouly in the New Administrative Capital, the cabinet also authorised the Holding Company for Maritime and Land Transport to establish a joint-stock company named the Sadat Dry and Land Port Company. The new entity will build, operate, and maintain a dry port on land allocated by the General Authority for Land and Dry Ports in Sadat City, Menoufia governorate. The project aims to integrate land, dry, and sea ports with transport networks to provide multimodal transport and logistics services, with the potential for private sector partnerships.
In the real estate sector, the Urban Development Fund received authorisation to negotiate with an international hospitality firm to manage and operate nine towers in the “Fustat View” project. The 15-year agreement will cover approximately 432 hotel units and two podiums comprising commercial and administrative spaces, aiming to maximise the economic return of the fund’s assets.
The cabinet also approved the Egyptian General Authority for Survey to disburse compensation to property owners whose lands intersect with phases of the High-Speed Electric Train project. The expropriations were deemed acts of public utility to ensure the mass transit network is completed within its scheduled timeline.
In a move to support national water security, the ministers approved a presidential draft decree allocating 69.26 acres of state-owned land in West Port Said for seawater desalination plants. The allocation falls under the country’s strategic water desalination plan extending to 2050.
In financial market developments, the National Asset Management Company, a subsidiary of the Holding Company for Construction and Development, received approval to increase its capital by EGP 50m to EGP 105m. The capital injection aims to improve the firm’s financial position, fund operational needs, and prepare the company to transfer its listing from the small and medium enterprises market to the main stock exchange.
The cabinet ratified decisions and recommendations issued by the Ministerial Engineering Committee on 8 September 2026. This includes direct assignments for 17 projects across the ministries of housing and transport, and the Port Said governorate, as well as increasing the assignment orders for 42 existing projects to ensure their completion and the utilisation of invested funds.
Finally, the cabinet adopted financial settlements processed by the expert committee established under Prime Minister Decree No. 2873 of 2015, covering the period from 23 April 2026 to 2 September 2026.