Arab Finance: Polaris Parks has earmarked EGP 6 billion to develop an industrial zone on an area of 2.6 million square meters in New October City, General Manager Bassel Shoirah told Al Arabiya.

The firm has already paid a down payment for the land and is currently waiting to receive the project's first phase land from the New Urban Communities Authority (NUCA) in January, he said.

Polaris Parks is looking forward to completing the industrial zone within a period ranging between two and three years, Shoirah added.

The firm also aims to attract local and foreign investments worth up to $1.5 billion from the first phase over the next three years, he noted.

 

Copyright © 2022 Arab Finance Brokerage Company All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info).