In line with the directives of Engineer Randa El-Manshaw, Minister of Housing, Utilities, and Urban Communities, to support and enhance investment and productive activities in new cities, the Real Estate and Commercial Affairs sector of the New Urban Communities Authority held a public auction at the Elashr from Ramadan city development agency. The session aimed to allocate 11 industrial units, or workshops, within the small and medium industrial complexes project in the southern developers' area.
The allocated industrial units, part of complexes 'A', are situated on a 702 square meter plot each and have a total value exceeding 195 million EGP. This initiative aligns with the Ministry of Housing's efforts to support industrial activities in new cities, provide new investment opportunities, and maximize the utilization of available industrial lands and units. The goal is to boost employment and production rates and support economic development in Elashr from Ramadan city.
Dr. Walid Abbas, Deputy Minister of Housing for Urban Communities, emphasized the importance of expanding investment and industrial activities in new cities. This expansion is crucial for attracting more investments, creating job opportunities, and enhancing the role of new cities as centers for production and economic development. The allocation of these industrial units reflects the government's commitment to fostering economic growth.
Dr. Ahmed Amara, the supervisor of the Real Estate and Commercial Affairs sector at the New Urban Communities Authority, clarified that the offering of units and investment opportunities is tailored to the needs of each city. The process adheres to development plans and complies with the regulations and procedures governing public auctions. This ensures the integrity of the process and maximizes the benefits from available assets.
Engineer Alaa Abdel Lah Mustafa, head of the Elashr from Ramadan city development agency, affirmed the agency's continuous efforts to offer industrial and investment opportunities. These efforts are aligned with the city's development plans and needs, aiming to support industrial activities, enhance investments, and complete the components of integrated development in the city.
The auction session was attended by representatives from the State Council, the New Urban Communities Authority, the Ministry of Finance, and the Urban Planning Police. Officials from the Elashr from Ramadan city development agency were also present. The event was conducted according to the legal and financial regulations governing public auctions, ensuring transparency and adherence to the law.
The successful allocation of these industrial units demonstrates the Egyptian government's ongoing efforts to stimulate economic growth and development in new cities. By providing opportunities for investment and industrial expansion, the government aims to create a more dynamic and diversified economy. The allocation of these units is a step towards achieving these objectives and supporting the country's economic development.
Key points
- The Egyptian government allocated 11 industrial units in Elashr from Ramadan city for a total value of over 195 million EGP.
- The allocation aims to support industrial activities, create investment opportunities, and enhance economic development in new cities.
- The process was conducted through a transparent public auction in accordance with relevant laws and regulations.
