The Industrial Development Authority (IDA) is planning to offer a total of 3-mn-square-meter land plots in Sadat City for small- and medium-sized enterprises (SMEs) in June, Al Mal reports.

The authority has not decided yet whether to offer the lands directly to industrial developers or to commission the New Urban Communities Authority for developing the lands, which would accelerate utilities connection at a lower cost, then offer lands to investors at reasonable prices below EGP 800 per square meter.

Ahmed Abdul Razek, head of IDA, had previously signed a contract with Saudi’s Construction Products Holding Company (CPC) to set up a new industrial zone in Sadat City on an area of ​​1.1 mn square meter, as part of the Ministry of Trade and Industry’s plan to offer 60 mn square meter to industrial investors by 2020.

The industrial zone comprises 20% of the total area assigned for SMEs in the city.

Abdul Razek said that CPC will equip the zone with an administrative building, medical clinic, training center, fire station, sewage treatment, security services, as well as an entire safety system.

He added that CPC will invest up to EGP 900 mn in the zone, raising its total investments in Egypt to USD 350 mn.

Riyad Kiwan, managing director of CPC, said that the experience of establishing and developing industrial zones in Egypt is one of the most successful experiences achieved by the group globally due to the support of the Ministry of Trade and Industry as well as IDA.