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Egyptian industrial property developer CPC has opened its 1.1 million square metre Sadat City Industrial complex in Sadat City, developed at an investment of four billion Egyptian pounds ($215 million).
CPC signed the agreement for the complex with the Industrial Development Authority (IDA) in the first quarter of 2019.
"We started construction in November 2019," Al Motaz Bahaa El-Din, CEO of CPC, told Zawya Projects.
He said the complex comprises 80 plots with essential infrastructure and amenities for establishing factories and also includes office and retail units, clinics, hotels, and a sports club to serve the whole area.
"Our new complex has been developed in three phases and builds on our success in developing integrated industrial complexes to serve businesses in Egypt," Bahaa El-Din said.
The company established its first industrial and logistics complex, spread over 1.5 million square metres, in the 6th of October City in 2008.
The new complex in Sadat City aims to build material, chemical, food, pharma, textiles, leather, timber, engineering, and electronics industries and includes a dedicated area for warehousing and logistic services.
"We will open Gahiez, a ready-to-use 110 unit for small and medium businesses the end of 2022," Bahaa El-Din said.
(1 US Dollar = 18.59 Egyptian Pounds)
(Reporting by Marwa Abo Almajd; Editing by Anoop Menon)
