About 55% – 60% of the technology parks’ construction in Borg El-Arab and Assiut has been completed, said an official in the Ministry of Communications and Information Technology.
According to the source, the construction works of the two areas will be completed at the end of this year. He added that the implementation of the first phase of both parks are worth about EGP 450m, while the first phase of the technology parks in 10th of Ramadan City and Beni Suef cost EGP 250m, totalling EGP 700m.
The official pointed out that different companies had already sent requests to reserve about 50% of the space at the technology parks in Borg El-Arab and Assiut. Wady ElNil for General Contracting is carrying out the construction works of the first phase in Borg Al-Arab and Assiut, aiming to establish 22 buildings before the end of 2016.
With a capital of EGP 1bn, the ministry had launched a new company called Silicon Waha for the establishment and operation of technology parks in May. Silicon Waha is an Egyptian joint stock company, established in accordance with Law No. 159 of 1981 and its implementing regulations, based on a partnership between the Information Technology Industry Development Agency (ITIDA) and the New Urban Communities Authority, affiliated with the Ministry of Housing. The company is responsible for planning, designing and implementing the buildings and technology parks specialised in telecommunications and information technology. It also provides logistics services and the required infrastructure of the technology projects.
The company’s board of directors consists of representatives from the Ministry of Communications and Information Technology, ITIDA, and the New Urban Communities Authority. It aims to establish six technology parks in Borg El-Arab, Sadat City, 10th of Ramadan City, New Beni Suef, New Assiut, and New Aswan.
On the other hand, the source said that the construction works of Knowledge City in the New Administrative Capital will be completed at the end of the year. The new city will be built on an area of 300 acres, and will include research, innovation, and entrepreneurship centres. It will be managed by Silicon Waha.