Bab El Azab is a cultural district located in Cairo, Egypt, encompassing historical landmarks such as the Citadel of Cairo. Avesta Group led the Regeneration Project of the district both in terms of operations and governance, facilitating cooperation between the two key stakeholders of the project: Bidayat and The Sovereign Fund of Egypt (TSFE). Avesta Group assessed cooperation options, recommended an optimal agreement, and detailed the key responsibilities and contributions of each stakeholder.
By managing governance, Avesta Group established the project company board, DMO executive committee, advisory boards, and an audit committee. To do so, thorough comparative analysis reports on governance and operations of institutions in MENA and Europe were produced. This effort aimed to ensure effective management and sustainability for Bab El Azab’s redevelopment.
