Hassan Allam, Bloom Development Award Golden Licenses

Hassan Allam, Bloom Development Award Golden Licenses

The Egyptian government awards four new golden licenses to companies, including Hassan Allam Utilities and Bloom Real Estate Development, at the start of the month, Invest-Gate reports.

The General Authority for Investment and Freezones (GAFI) did not give further details on which projects were awarded the licenses.

However, Bloom Real Estate is planning a number of developments in New Zayed.

Nine golden licenses were awarded to mega projects late last year, including a $5.5 bn green ammonia plant in Ain Sokhna and an EGP 8.8 bn home and electrical appliances manufacturing and assembly facility group in Menoufia.

It is worth noting that golden licenses fast-track new industrial and infrastructure projects.

Also known as “single approval licenses,” they allow investors to require only one approval that covers everything from establishing the project, land allocation and building licensing, through to operation and management.

Further, GAFI is currently working on issuing new diamond and silver-tiered licenses to investors depending on each sector’s priorities. It is also working with the Industrial Development Authority to release a new investment map with an estimated 1k available plots of land and 86 pilot projects in key industries up for grabs.


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