Half a trillion pounds.. Egypt is preparing to establish a new investment city

The permanent committee to study applications for establishing new investment zones in Egypt approved a company's request to establish the city of “Tarbol”.

The committee approved the request submitted by the “GV Investments B.S.C.” M. M." To establish the city of Tarbol, according to the investment zones system, in preparation for the issuance of the decision authorizing the establishment of the zone from Dr. Mustafa Madbouly, Prime Minister.

An integrated regional development complex

According to the statement of the Egyptian Investment Authority, August 23 2023, the project aims to establish an integrated regional development complex, on an area of 26,000 acres in the desert hinterland of the city of “Atfih”, north of Giza.

  The project accommodates a mixture of various economic activities, industrial and logistical, financial and business centers, commercial and administrative centers, residential neighborhoods, and community, health, training and technical services centers.

Half a trillion pounds 

The investment costs for establishing and developing the project amount to half a trillion pounds, and it is expected to provide 750,000 direct job opportunities, in implementation of the development strategy “Egypt’s Vision 2030” regarding the establishment of green and smart cities.

Investment zones system

The project will contribute to achieving a strong addition to the investment zones system, which currently includes 16 investment zones spread across the governorates of the Republic, of which 11 are already existing, with a total area of 2,400 acres, including 1,269 projects with an investment volume of 34 billion pounds, and providing more than 90,000 job opportunities.

This is in addition to 5 investment areas under construction in the governorates of Cairo and Giza, with a total area of about 2,000 acres, and includes 311 projects, with investments amounting to 157 billion pounds, and providing more than 167,000 job opportunities.

3 billion dollars

The Chairman of the Board of Directors of the "GV" Development Company in Egypt, Sherif Hammouda, revealed that the investments of the first phase of the "Tarboul" industrial city project amounted to 3 billion dollars.

“Sherif Hamouda” said that the marketing and implementation plan for Tarbol is proceeding according to a timetable, and is witnessing a remarkable turnout from investors. For example, about 350 factories are currently being established, in addition to the completion of contracting procedures with a local investor to operate an educational complex that includes a university and schools for technical education, on an area of 200,000. Square meters.

“Hammouda” explained that the volume of investment in the urgent components of the first phase of the city of Tarbol amounted to 255 million dollars.

“Hammouda” indicated that there are 3 contracting companies of the first category that have actually started work in preparing the land for the first phase, which are Hills, Shenawy, and Abu Arida Contracting.