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IDA plans to offer 28.5m sqm of industrial lands by end 2020 - Daily News Egypt

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IDA plans to offer 28.5m sqm of industrial lands by end 2020

Will offer New Salhia project for agricultural reclamation through special developer system soon

The Industrial Development Authority (IDA) aims to finalise the offering of 28.5m sqm of industrial lands by the end of 2020.

According to Sabry El-Shafei, head of the Central Unit for Policy and Legislative Studies at the IDA, the IDA is also cooperating with the private sector to develop lands, where 12 industrial zones have been established by the system of industrial developers and characterised by advanced technology.

He noted that the coming period will see the development of projects for private developers such as the New Salhia project for agricultural reclamation.

He added that this strategy is part of the plan of the Ministry of Trade and Industry to offer 60m sqm during the period from 2016-2020, noting that 31.5m sqm had been completed at a cost price.

On the investment map’s website, the IDA has recently offered about 2,050 plots of land for industrial investment through which investors can get the lands they need online, which reduces the time period and procedures, he disclosed.

With regards to small and medium-sized enterprises (SMEs), El-Shafei pointed out that the authority has launched four industrial parks so far in Sadat, Badr, Port Said, and Alexandria. Besides, it is currently establishing 13 industrial complexes, including 4,311 industrial units with areas of 60-150 sqm, aimed to be completed by the end of 2020.

“The IDA offers land with multiple systems, including usufruct system, ownership, and leasing. It’s also offering free of charge meters, like the case of Upper Egypt’s lands, where 10m sqm were offered free of charge, and units were offered in the Mirghem 2 complex and Hurghada for rent EGP 20 per meter,” he elaborated.

He stressed that the role of the authority is not only to offer land, but extends procedures facilitation for investors, under the new laws, including the reduction of the lisense period from more than 600 days to seven days for low-risk industry and 30 days for high-risk.

He revealed that the IDA is currently negotiating with other parties in order to transfer the mandate of industrial lands to the authority.

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