Elsewedy Development is negotiations with the New Urban Communities Authority (NUCA) to acquire land in the industrial area in the city of New El Alamein, according to the CEO of Elsewedy Development Mohamed Alkammah.
The NUCA has allocated 40m sqm of industrial activity in New El Alamein City and will begin offering for investors.
Alkammah told Daily News Egypt that the company is close to receiving lands it won in the bid offered by the Industrial Development Authority (IDA) in the cities of Sadat and 10th of Ramadan, with a total area of 5.4m sqm.
The company acquired 1.4m sqm in the city of Sadat and 4m sqm in 10th of Ramadan through SDM for development and management—one of the company’s subsidiaries.
Alkammah said that the company immediately after the completion of the procedures for receiving the land from the IDA, will begin the development of these lands.
The IDA has launched 8m sqm of land for industrial development in 10th of Ramadan and Sadat last year for industrial developers.
Th total area of Elsewedy Development’s projects is 8.2m sqm with a total of 280 planned factories, of which 110 are under construction.
He pointed out that the company had not yet outset negotiations for land for industrial activity in the New Administrative Capital.