The committee held its first meeting on the development of four historical palaces on Thursday, Borsa news quoted Simbel as saying.
The four palaces are the Palace of Mohammed Ali in Shobra, Baron Empain Palace in Heliopolis, the Palace of Alexan Pasha in Assiut, and Rest of King Farouk in Giza, said Simbel.
Head of the central administration of the restoration said the cost of the development and rehabilitation of Alexan Pasha palace will be about LE10 million, as the majority of the work of the project will be limited to restoration, unlike the palace of Mohammed Ali which needs further construction work.
The Ministry has already started restoration work at Alexan Pasha palace three months ago, he pointed out.
Among the proposals put forward during Thursday meeting was using the Baron Palace for holding conferences, said Simbel.
The Antiquities Ministry received proposals for the right to use Mohammed Ali Palace's garden in return for the use of its garden, said Antiquities Minister Khaled al-Anani.
He added in a previous statement to Borsa news website that the Ministry seeks to re-inaugurate the rest of King Farouk in the Pyramids area at a cost of LE60 million, which the Ministry cannot afford in the meantime.
The total number of archaeological mansions is 45 nationwide, including 10 palaces that need restoration work, according to Anani.
He estimated the average amount needed by each palace to be renovated between LE 30 million and LE 150 million.
