Describing the 10 metres high tomb as a unique find due to its "near-perfect condition", Mr Waziri said: "The colour is nearly intact even though the tomb is nearly 4,400 years old".
The tomb itself is mostly made from white limestone blocks, while the stunning paintings within were created with a special green resin, according to the Egyptian antiquities ministry.
The latest discovery could shed new light on the pyramids themselves.
The tomb's north wall indicates that its design was inspired by the architectural blueprint of the dynasty's royal pyramids, the statement added.
The L-shaped tomb's chambers bear inscriptions and colorful reliefs that are so well preserved that the experts excavating the site were able to discern the fingerprints of the tomb's painter.
The excavation team has unearthed several tombs related to the Fifth Dynasty.
The pharaoh-who reigned for almost 40 years between 2414 and 2375 B.C. -is considered to be one of the most influential rulers of Ancient Egypt, largely as a result of his administrative and religious reforms, according to Egyptologist Ahmed Saleh, Egypt Today reported. The pharaoh was also notable for devolving power to provincial rulers around Egypt, weakening the authority of the centralized administration.
Saqqara served as the necropolis for Memphis, the capital of ancient Egypt for more than two millennia.
Egypt has revealed over a dozen ancient discoveries this year.
Mohamed Mujahid, head of the Egyptian mission which discovered the tomb, posing for a "selfie" photograph on a cell phone inside the newly-discovered tomb of the ancient Egyptian nobleman "Khewi" in Saqqara necropolis in Egypt on April 13, 2019.