3 firms eye launching private free zones in New Cairo, Sharm El Sheikh

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Two requests were submitted by Al Ahly Sabbour for Real Estate Developments and Redcon Properties to build two free zones in New Cairo

Staff Writer, Arab Finance

May 8, 2024

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The government has received three requests for the establishment of three private free zones, a government official told Asharq Business.

Two requests were submitted by Al Ahly Sabbour for Real Estate Developments and Redcon Properties to build two free zones in New Cairo, while the third request was submitted by an anonymous investor for setting up a free zone in Sharm El Sheikh, the official said.

The Cabinet will authorize the new criteria for setting up private free zones within a few days, the official highlighted.

Moreover, the official added that the three new requests comply with these criteria, which will be a prerequisite for accepting requests to establish special free zones.

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