The General Authority for Suez Canal Economic Zone confirms the finalization of the development of lands east Port Said in the upcoming period, Invest-Gate reports.
“In an effort to provide investors a prepared site at Sokhna Port, east Port Said, and Qantara West eligible for construction projects,”assured Chairman for the General Authority for Suez Canal Economic Zone Ahmed Darwish at Cityscape Business Breakfast today.
“The Authority has assigned three consultancy firms to evaluate pricing for lands offered to investors, which will depend on location and total area of land” Darwish stated.
The areas prepared for real estate development include Sokhna Port and Qantara West, where both have witnessed tourism activity and high rent prices, alongside west and east Port Said City, which have witnessed less urban development activity.
“East of Port Said City lacks real estate development because developers have been waiting for the completion of the construction industrial zone, while industries on the other side have been reluctant to build their factories in residential areas. Therefore, there needs to be a smart city to make it more habitable and comfortable for factory workers,” Darwish said.