Arabia Developments has signed a cooperation agreement with Elsewedy Industrial Development, a subsidiary of Elsewedy Electric, to develop and manage an integrated industrial zone in New October City, spanning over 2mn sqm. The initiative supports Egypt’s strategy to localize industries and enhance local production by establishing advanced industrial zones with smart infrastructure, fostering Egypt’s regional and global competitiveness, Invest-Gate reports.
The signing ceremony was attended by Eng. Tarek Shoukry, Non-Executive Chairman of Arabia Developments, and Eng. Ahmed Elsewedy, CEO and Managing Director of Elsewedy Electric. The agreement was signed by Mrs. Rabab Mostafa, Vice Chairperson of Arabia Developments and CEO of PlaceMappers– a subsidiary of Arabia Developments– and Mr. Mohamed Mostafa, Chief Financial Officer of Elsewedy Industrial Development.
Under the agreement, Elsewedy Industrial Development will manage and develop the entire industrial zone owned by Arabia Developments, including infrastructure, utilities, and land planning, to create a fully integrated area ready to host investors across various industrial sectors.
Commenting on the partnership, Eng. Tarek Shoukry, Non-Executive Chairman of Arabia Developments, said: “This partnership marks a significant step in our vision to support local industry and strengthen the national economy. Our choice of Elsewedy Industrial Development stems from its proven expertise in developing and managing industrial zones, ensuring the implementation of a world-class, sustainable project.”
Eng. Ahmed Elsewedy, CEO and Managing Director of Elsewedy Electric, added: “This agreement represents a practical model of private sector collaboration to drive industrial development. Through this partnership, we aim to create an attractive investment environment that boosts productivity and accelerates industrial operations, offering comprehensive services that cover design, planning, development, and operational management.”
He continued: “The project builds on Elsewedy’s efforts to establish integrated industrial cities in several governorates, including 10th of Ramadan, 6th of October, Sokhna, and Sadat. This cooperation will help increase local manufacturing rates and generate direct and indirect employment opportunities.”
Mrs. Rabab Mostafa, Vice Chairperson of Arabia Developments, emphasized that the selection of Elsewedy Industrial Development was based on its extensive experience and proven record in developing and operating major industrial cities in Egypt, such as 10th of Ramadan, 6th of October, and New Alamein. She noted that this partnership will bring tangible value to the industrial sector and strengthen Egypt’s position as an integrated industrial hub.
The agreement reflects a shared vision between the two companies to promote industrial investment and solidify Egypt’s status as a regional industrial destination, empowering national firms to lead strategic projects that foster more diversified and sustainable economic growth.