Minister of Supply and Internal Trade Ali Meselhy has laid the foundation stone for the first logistic zone in Monufia Governorate, dubbed “Delta Landmark,” which will be developed with investments worth EGP 2 bn, Invest-Gate reports.

Stretching over 54,600 square meters, the new project will include a shopping mall, a hotel, as well as, service and commercial spaces. It will bring more than 60 franchise companies and international brands into the Egyptian market, with 300 stores operating in different fields, Meselhy said during an official ceremony on December 3.

Marking a milestone in the Nile Delta area, Delta Landmark will be executed over a three-year period, starting in a year and a half. It will provide nearly 5,000 direct and indirect job opportunities, 5% of which will be devoted to special needs individuals, according to a recent Cabinet statement.

Meselhy underscored that the trade ministry has drawn up a strategic map, whereby logistic areas, wholesale markets, commercial malls, and extended financial outlets will be put forth across all governorates.

Monufia Governor Ibrahim El Shahawy also pinpointed that the new investment comes in line with the state’s plans to foster trade activities, which will significantly contribute to economic development and employment creation for youth.