Egypt’s General Authority of Investment and Free Zones (GAFI) has approved the establishment of GV Investment’s Tarboul City EGP 500 bn investment zone in Giza, Invest-Gate reports.

The application, submitted by GV Investments, has been accepted to develop an industrial city named “Tarboul” on a vast area of 26,000 acres.

The city will function as a comprehensive regional development complex, encompassing economic, industrial, and logistics activities. It is anticipated to generate 750,000 permanent employment opportunities.

Included within the project’s scope are financial and business centers, shopping and administrative malls, residential areas, and various community services.

Additionally, the development will incorporate health and training facilities. The cabinet statement further disclosed that Egypt currently has 11 operational investment zones covering a total area of 2,400 acres, with 1,269 projects implemented for EGP 34 bn. These projects have collectively contributed to over 90,000 jobs.

Moreover, the statement revealed that there are five investment areas currently under construction in Cairo and Giza, spanning 2,000 acres. These projects amount to EGP 157 bn in investments and are expected to create more than 167,000 job opportunities.

Notably, GV Investments Group was established in 2019 and headquartered in Egypt, operates across the real estate, industrial, and services sectors.