Industrial developer Polaris Parks celebrated a ribbon-cutting ceremony at its Bosla 1, one of Polaris Parks’ major projects.
With total investments of EGP 350m, Bosla 1 Project in October extends over 55,000 sqm including 56 units starting from 500 sqm.
During a press conference held on Tuesday, Osman Evren Arikan, General Manager of Polaris Parks, said: “After the success of Bosla 1 project, Polaris Parks set the corner stone for the second Bosla project on an area of 40,000 sqm, with 62 units, and unit sizes starting from 390 sqm.”
Arikan added that the second phase is expected to be delivered in 2021 and to be the second of many upcoming Bosla projects across the country.
Bassel Shoirah, Deputy General Manager of Polaris Parks, emphasised that Bosla provides incentives to attract local investors through flexible payment terms and competitive plans and deals offered by National Bank of Egypt (NBE). In addition, various advantages distinguishing Bosla from other competitors whether in professional management, or through partnerships with major brands, eco-friendly units, and modern designs, are also available, bringing the total of these local investments in both projects to EGP 2.4bn.
Magdy Ghazi, chairperson of Industrial Development Authority (IDA), along with management officials of Polaris Parks, and a number of government officials attended the opening ceremony. The ceremony witnessed honouring the investors that have projects within Bosla, as Polaris Parks announced selling and delivering 80% of the first project units.
Ghazi praised the outstanding establishment of Bosla project and its punctual delivery.
He highlighted that the project offers ready-units for investors to immediately commence their industrial or servicing activities, which is a compatible integration of the state’s plan – represented by the Authority, and the industrial developer in order to provide high quality integrated solutions to investors.
Ghazi deliberated on the importance of the industrial developer’s role in developing fully-integrated industrial zones that meet the international quality standards.
Arikan noted, “We are delighted to collaborate with leading governmental entities and private sector organisations, such as the Industrial Development Authority (IDA), NBE for payment facilities, and Al Zamil Steel, with whom we share a strategic vision to attract SME investors, with regards to their pivotal contribution to developing the industrial scene and boost the Egyptian Economy.”
“Through Bosla project, we offer SMEs Plug and Play units compatible with their scope of work and different usage as industrial units or warehouses. Our priority is fulfilling every need for SME investors, guaranteeing them the best environment for their project success and customer satisfaction,” added Arikan.