GV Investments, a leading industrial developer in Egypt, has announced that it will launch a new initiative to support the national industry and increase its contribution to the GDP. The initiative, called Sanaa’ (manufacture in Arabic), will provide several ready-made industrial complexes for medium and small-sized projects in Tarboul City, the largest sustainable industrial city in Egypt.
The company’s Chairperson, Sherif Hamouda, said that the initiative will be announced during the Cityscape Egypt exhibition, the largest real estate event in the country, from 20 to 23 September 2023. He said that the company has allocated an area of 500,000 sqm to establish ready-made factories with four models to suit various non-hazardous industries. The factories will range from 700 sqm to 1,100 sqm in size and will be delivered within nine months from the date of the contract.
Hamouda added that the company will offer easy payment plans for the factories, in cooperation with some banks, without down payment and installments for up to 10 years, with a simple interest rate not exceeding 5%.
A model for smart and green industrial development
Tarboul City is a mega project that spans over 26,000 feddan (109 million sqm) in the desert of Atfih city, north of Giza. The project was approved by the General Authority for Investment and Free Zones to be established under the investment zone system. The city will accommodate a mix of different economic fields, including industrial, commercial, residential, and entertainment sectors.
The city also enjoys a strategic location close to the main hubs in the Delta and Upper Egypt regions and boasts a modern and advanced infrastructure, compatible with fourth-generation technologies. It is considered an innovative industrial complex that includes a new concept of sustainable development, as it provides various social services and achieves an ideal balance between business and daily life.
The city’s investment costs are expected to reach about EGP 0.5trn, and it will create about 750,000 direct job opportunities.
Hamouda pointed out that Tarboul City is a model for smart and green cities, which are in line with Egypt’s Vision 2030. He said that the city would have a very important role in achieving the industrial renaissance, boosting local manufacturing, and reducing industrial import bills. He also said that the city will create job opportunities for many young people.
He explained that the city will include around 12 industrial hubs, such as a technology valley, areas for food industries, electric car industries, medical industries, fabricated apparel, textiles, building materials, chemicals, plastics, and others.
He said: “We have developed an integrated plan to promote Tarboul City in many countries and foreign exhibitions to attract many foreign investments. We have made promotional visits to Singapore and Russia, which were very positive, and we have reached preliminary agreements.”
GV Investments to provide full utilities for Tarboul City
GV Investments has signed an agreement with TAQA Arabia, a major energy company, to launch the Tarboul Infra company. The new company will be responsible for providing the full utilities for Tarboul City. The utilities will include electricity, water, and gas, based on modern technology and environmentally friendly specifications.
Hamouda said that the agreement was signed in March 2023 and that it reflects the company’s commitment to offer high-quality services and facilities for the investors and residents of Tarboul City.
Three projects at the Cityscape exhibition
Hamouda also said that the company will participate in the Cityscape Egypt exhibition, the largest real estate event in the country, from 20 to 23 September 2023. He said that the company will showcase three main projects at the exhibition, including Tarboul City.
The other two projects are White Sand, a coastal resort that covers an area of 186 feddan on the Alexandria-Matrouh Road, close to New Alamein. The project will offer about 3,200 residential units, varying between apartments, villas, twin houses, chalets, studios, and commercial units. The project will also provide service buildings such as a sports club and a hotel.
The third project is Cairo City, a new development in Obour City that will be unveiled during the exhibition days. The project will offer various types of residential units with modern designs and amenities.
Hamouda said that the company will offer exclusive facilities and benefits for the customers of the Cityscape Egypt exhibition.
GV faces challenges and seeks foreign investments
Hamouda acknowledged that the real estate sector has faced several challenges during the past periods, such as the high levels of inflation locally and globally and the consequences of this on construction costs. He said that despite these challenges, the real estate market has shown strength and resilience, and achieved remarkable successes. He cited the high sales that the company achieved during this year, compared to last year.
He attributed this success to the fact that Egyptians consider real estate as the safest investment and a way to preserve their savings in light of local currency devaluation. He also said that real estate prices in Egypt are still the cheapest in the region, as a result of the decline in local currency exchange rate.
He added that the exhibition is an important opportunity to introduce the company’s products and compete with other developers to present their best products in the Egyptian market.
He also revealed that the company is seeking foreign investments for Tarboul City. He said that he has made promotional visits to Singapore and Russia, which were very positive, and that he has reached preliminary agreements with some investors.
The company owns 14 subsidiaries in three main sectors
GV Investments owns around 14 subsidiaries operating in three main sectors: real estate development, contracting, and green investment. The real estate development sector includes six companies: GV Developments, Creo Invest, Creo Developments, GV Sports, Creo Properties for finishes and decorations, and GV Hotel Management. The contracting sector includes seven companies: Green Food Creo Construction, Creo Construction, Green Investment, Dar Al Arab, Dana, and Green Wave Contracting. The green investment sector includes two companies: Green Environmental, which specializes in ports, and Benco Company.
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