Administrative Capital Urban Development Company (ACUD) and Polaris Parks Industrial Development Company have signed a partnership agreement to develop an integrated industrial and service complex in the New Administrative Capital, covering an area of 1.8 million square meters in a strategic and prime location. The project is expected to attract direct investments exceeding 120 million dollars and create approximately 15,000 direct and indirect jobs, Invest-Gate reports.
The partnership agreement was signed at ACUD’s headquarters by Eng. Khaled Abbas, Chairman and Managing Director of ACUD, and Mr. Osman Arikan, Managing Director of Polaris Parks, in the presence of Mr. Tunç Özkan, Chairman of Polaris Parks, Dr. Eng. Ahmed Fahmy, General Manager of ACUD, and Eng. Basel Sha’ira, General Manager of Polaris Parks, along with a group of executive leaders from both companies.
This project comes as part of ongoing efforts to enhance Egypt’s industrial investment map and support the objectives of Egypt Vision 2030 by developing integrated industrial communities that stimulate economic growth and enhance the competitiveness of national industries.
A memorandum of understanding for the project was previously signed in the presence of President Abdel Fattah El-Sisi of Egypt and his Turkish counterpart, President Recep Tayyip Erdoğan.
The new complex is strategically located on Ain Sokhna Road, near the New Administrative Capital power station, making it a central hub for serving both export-oriented and domestic industries. The project aims to provide a new generation of integrated industrial communities combining advanced manufacturing and logistics services. It will host a wide range of key sectors, including food, engineering, pharmaceuticals, chemicals, and cosmetics. Land preparation is expected to take 18 months, with full operations commencing within two years from the start of development, in a single integrated phase.
Eng. Khaled Abbas, Chairman of ACUD, stated: “This project represents a qualitative leap in diversifying the investment base of the New Administrative Capital and confirms its ability to attract high-value direct industrial investments. We are working to provide a fully integrated business environment based on advanced infrastructure and a strategic logistics location that supports supply chains and exports, enhancing the competitiveness of Egyptian products in regional and international markets. The partnership with Polaris Parks reflects investor confidence in the investment climate of the New Administrative Capital and aligns with the state’s approach to localizing industry, deepening the domestic industrial component, and creating sustainable job opportunities. We look forward to this complex becoming an advanced model for integrated industrial zones that actively contribute to achieving the objectives of Egypt Vision 2030 and reinforcing Egypt’s position as a regional hub for industry and logistics.”
Mr. Osman Arikan, Managing Director of Polaris Parks, said: “Polaris New Administrative Capital Complex represents a strategic expansion in our nearly 20-year presence in the Egyptian market. Our entry into the New Administrative Capital underscores our confidence in the stability and growth of the national economy and our ability to attract major foreign investments by providing a smart operational environment with global standards, positioning Egypt as a competitive industrial destination in the region. Through this complex, we aim to attract a wide range of local and international industrial companies, making it an integrated industrial community hosting top industry leaders across multiple sectors.”
Eng. Basel Sha’ira, General Manager of Polaris Parks, added: “Our vision for this project goes beyond land development. We aim to develop a fully integrated industrial ecosystem that combines production and advanced logistics services to ensure maximum operational efficiency for investors from day one. This complex is not only designed to create thousands of jobs but also to serve as a launch platform for manufacturers into global markets, directly contributing to the development of national industry and increasing export rates, in line with the urban and economic growth witnessed by the New Administrative Capital.”
This project aligns with the state’s efforts to enhance Egypt’s industrial investment map, in accordance with the objectives of Egypt Vision 2030, aiming to deepen local manufacturing, increase industrial exports, and strengthen Egypt’s position as a regional hub for manufacturing and logistics in the Middle East and Africa.
About the New Administrative Capital Urban Development Company (ACUD)
ACUD is an Egyptian joint-stock company established in April 2016, acting as the main developer of the New Administrative Capital. It is responsible for planning, managing, and operating the New Capital, one of Egypt’s most strategic national projects. Construction of the New Capital began in 2017, spanning approximately 230,000 feddans, located around 60 km east of Cairo and 65 km west of Suez. Upon full completion, it is planned to accommodate up to 8.5 million people, aiming to reduce congestion in Cairo and address rapid population growth.
The New Capital, as a fourth-generation city, leverages the latest smart systems. ACUD has signed agreements with leading global companies to enhance smart city and building concepts and manages infrastructure and services using advanced technologies, positioning the New Capital as the most modern smart city in the Middle East.
About Polaris Parks Industrial Development Company
Founded in 2007, Polaris Parks is a leading private joint-stock company in developing and managing integrated industrial complexes in Egypt. It was the first private industrial developer to obtain a license from the General Authority for Industrial Development (License No. 1), in partnership with Siac Holding, Memphis Capital (UK), and Zamil Group (Saudi Arabia).
Polaris Parks’ portfolio includes industrial complexes in strategic locations such as 6th of October City, Sadat City, and New October City, covering over 10 million square meters. These host more than 700 factories and 430 units for small and medium enterprises, supporting local manufacturing and industrial value chains. Polaris Parks has attracted over 3.5 billion dollars in industrial investments and created more than 75,000 direct and indirect jobs, providing a sustainable and investor-friendly industrial environment.