Approximately 64.7 acres of land will be offered for investments in the Giza governorate next year as land tenders have been finalized, a source from the Giza governorate told Al Borsa.

Construction on any projects set to commence on the offered lands is expected to be finalized within seven years from beginning of construction. Construction is set to take place over two phases, whereby the first phase will include 18 projects spread on 16.5 acres of land, divided into 11 plots, wherein their current use will be discontinued.

This is in addition to the settlement of 8.2 acres of land with new investments, and another seven plots of land on 8.2 acres that are offered on the condition of maintaining their current use.

The projects in the first phase will include a social club for teachers, a restaurant, ambulance point, social clubs for several syndicates, and a social center dedicated for Cairo University.

Meanwhile, the second phase is expected to include 16 projects spread over 48.2 acres of land, including 18.3 acres that will be dedicated for foreign investments, while 8.7 acres of land will be employed for development, and 584 square meters that will maintain their current use for residential purposes.

The projects within the second phase are expected to include removal of three projects that were built on the investment lands, and developing five existing projects that include the Pharaonic Village, and five residential towers. The governorate will also dedicate eight plots of land for residential projects.