Prime Minister Mostafa Madbouly, who is also the Minister of Housing, Utilities, and Urban Development, has announced the availability of promising investment opportunities in four mega projects in the 10th of Ramadan City, Invest-Gate reports.
The four major projects are the Regional Services Center, the Knowledge City, the Central Money and Business Zone, and the New Zagazig Area, according to Madbouly.
The 10th Of Ramadan City Authority is currently working to connect the necessary facilities to the projects’ areas. The city has existing infrastructure and integrated facilities, including water sanitation stations, as well as, housing projects, agriculture, services, local and regional road network – all at a cost exceeding EGP 16 bn, according to a ministerial statement.
Abdel Monsef Rifai, Chairman of 10th of Ramadan City Development Authority, highlighted that the Regional Services Center spans across an area of 1,430 acres, with 240 acres dedicated to the first phase. It includes the establishment of an immense regional center for commercial and retail services, international schools, and a smart village.
Aiming to duly serve the city’s population and surrounding complexes, the project comprises housing units for higher claases, over 400,000 square meters of commercial premises, nearly 200,000 square meters of complementary activities, and more than 25,000 jobs in the service sector.
The center aims to encourage the growth of the services sector in the city to improve its regional role, and thus, lure investments to develop the Cairo-Ismaili Axis, Rifai asserts, according to the statement.
Stretching over 1,915 acres, the Knowledge City aims to be an educational city serving the national industry, encompassing 153 land plots for sale, with areas of ranging from 11,529 to 312,339 square meters, he added.
Chairman Assistant Sherif Abdelbadea says that the Central Money and Business Zone stretches over 756 acres and it aims to enhance the economic activity in the city and East Delta. The zone comprises 133 acres for residential administrative activity, 246 acres for commercial services, and 100 acres for hotels and leisure developments.
Whilst the New Zagazig District, which spans across 9 mn acres and encloses the University of Zagazig and private universities. The district encompasses 2,056 factories with investments of EGP 28.1 bn, with an annual output of EGP 34 bn, in addition to 1,028 factories currently under construction at an expected annual production of EGP 2.7 bn.
The prime minister points out that any investor wishing to invest in these projects has to submit a feasibility study for a project, in addition to providing financial solvency of the company with its previous experiences.