The Ministry of Housing and Urban Communities has announced plans to allocate 53,000 feddans of land for industrial zones and warehouses as part of the expansion of 10th of Ramadan City. This move is aimed at accommodating the growing number of investment requests flooding into the city.
Minister of Housing Sherif El Sherbini has promised to conduct a comprehensive study to evaluate the performance of companies developing the industrial zone in the 10th of Ramadan area. The study will focus on land prices and the services provided to investors.
New Industrial Zones to be Allocated by Year-End
Engineer Alaa Abdullah Mostafa, Head of the 10th of Ramadan City Development Authority, stated that the new industrial areas are expected to be allocated and offered to investors before the end of the year. However, he pointed out that the recent sharp increase in water consumption fees for factories has become a major concern for investors. Previously, the rate was 50 piasters per square meter, but it has now surged to EGP 10 per square meter.
Mostafa added that the authority is awaiting a presidential decree to approve the land allocation within the coming weeks, especially given the high demand from industrial investors. He also noted that the city has a large portfolio of land ready for investment.
Investor Concerns and Requests
Ayman Reda, Secretary-General of the 10th of Ramadan Investors Association, stated that the association recently met with the Minister of Housing and requested the creation of an online platform to connect various ministries and agencies. This platform would streamline the process of obtaining the necessary approvals for investment projects.
Reda also mentioned that the association has asked the government to differentiate between warehouses for commercial activities and those dedicated to industrial processes, as the latter are integral to the production chain. This distinction would ensure that industrial investors are treated fairly and provided with appropriate facilities.
