GV Investments is preparing to launch a new initiative to reinforce the national industry, in light of the state’s interest in expanding the industrial sector’s contribution to the gross domestic product (GDP) and enhancing its role as a catalyst for economic development.

Sherif Hamouda, Chairman of GV Investments, stated that the company will reveal the launch of the Sanaa Initiative during its participation at Cityscape. It provides several ready-made industrial complexes for medium and small projects, as part of its largest project, Tarboul City, the largest sustainable industrial city in Egypt.

Hamouda indicated, in exclusive statements, that an area of up to half a million sqm has been allocated to establish prefabricated factories, in areas ranging from 700 m to 1,100 m, where four models will be provided to suit various non-hazardous industries. He noted that construction work has begun in the region, and the customer will get his factory ready for operation within only nine months from the date of the contract.

He added that flexible payment plans will be provided, in cooperation with several banks, without advance payments and installments for up to 10 years, with a simple interest not exceeding 5%.

GV recently obtained the approval of the General Authority for Investment to establish Tarboul City under the investment zone system, on an area of 26,000 acres (109 mn sqm) in the desert outskirts of the city of Atfih, north of Giza, to accommodate a mix of different economic activities.

The city also enjoys a strategic location close to the main hubs in the Delta and Upper Egypt regions, and it has a modern and advanced infrastructure, compatible with fourth-generation technologies.

Moreover, the city is considered an innovative industrial complex that includes a new concept of sustainable development. It includes industrial complexes and commercial centers surrounded by residential and entertainment facilities, and provides various social services, achieving an ideal balance between business and daily life.

The city’s investment costs are expected to reach about half a trillion EGP and will contribute to providing about 750,000 direct job opportunities.

Hamouda stressed that Tarboul is a model for smart and green cities, in line with Egypt’s Vision 2030. He pointed out that the city will have a vital role in achieving the industrial renaissance and creating job opportunities for many young people, as well as contributing to deepening local manufacturing and reducing the industrial imports bill.

He explained that the city will include about 12 industrial hubs, including a technology valley, areas for food industries, electric car industries, and an area for medical industries, ready-made clothing, textiles, building materials, chemicals, plastics, and others.

Hamouda mentioned that an integrated plan had been developed to promote the city in many countries and foreign exhibitions to attract many foreign investments. He stated that he made promotional visits to Singapore and Russia, which were very positive, and preliminary agreements were reached.

In March 2023, GV signed an agreement with TAQA Arabia company to launch Tarboul Infra company to be responsible for providing the city’s full facilities, including electricity, water, and gas, based on modern technology and environmentally friendly specifications. This is in line with it being a major industrial center for manufacturers and international investors and an attractive destination for global investment.

Regarding his participation at Cityscape Egypt, Hamouda said that the exhibition is one of the most important annual exhibitions held in Egypt, and it always enjoys the participation of major real estate companies to display their projects with exclusive facilities and benefits for Cityscape clients. Furthermore, the exhibition is widely accepted by the public, allowing companies to achieve very good sales.

He added that the company is participating in the exhibition through three main projects, which are Tarboul City, White Sand North Coast, and a new project that will be unveiled.

Hamouda pointed out the exceptional economic situation that the country is going through in light of the high levels of inflation locally and globally, and the consequences of this on the real estate market in terms of increases in implementation costs. However, the real estate market has the strength to face challenges and achieve remarkable successes, and it has emerged. This is evident in the high sales companies achieved during 2023, compared to what they achieved in 2022.

Hamouda explained that Egyptians prefer to buy real estate as the safest investment, which can maintain the value of their savings in light of the decline in the currency. Moreover, real estate prices in Egypt, despite their rise, are still the cheapest in the region, as a result of the decline in the local currency exchange rate. He mentioned that the exhibition is an important opportunity to introduce companies’ products and compete with each other to present their best products in the Egyptian market.

He clarified that the company will participate in the exhibition with three projects, the first of which is Tarboul City and the launch of the Sanaa Initiative. The second project is White Sand on the North Coast, which is a distinctive project and location close to New Alamein City, on an area of 186 acres, on the Alexandria-Matrouh Road. He further explained that the project includes about 3,200 residential units, varying between apartments, villas, twin houses, chalets, studios, and commercial units, in addition to service buildings including a sports club and a hotel.

Hamouda mentioned that there are green spaces and bodies of water to add more luxury and enjoyment to the project’s clients. He noted that the project has a private beach at a distance of 750 sqm, and its designs will make it one of the most important landmarks in the region, thanks to its attractive international designs and integrated services at the highest level.

Hamouda stated that during Cityscape, details of the company’s third project participating in the exhibition will be revealed, which is Cairo City in Obour City.

It is worth noting that GV Investments owns about 14 subsidiaries operating in three main sectors, including real estate investment. This sector consists of about six companies, namely GV Developments, Creo Investments, Creo Developments, GV for Sports Investment, Creo Properties for Finishes and Decorations, and GV for Hotel Development and Services.

The second sector, which is contracting, includes the companies Green Food Creo Contracting, Creo General Contracting, Green for Investment, Dar Al Arab, Dana, and Green Wave Specialized Contracting. This is in addition to the establishment of Green Environmental, which specializes in ports, and Benco Company. The last sector is green investment.