19 January, 2020

Egypt's Polaris Al Zamil to start construction of SME complex in Sadat City in Q2

Project is part of its Polaris Sadat City master plan

Construction worker on scaffolding in construction site. Image used for illustrative purpose.

Construction worker on scaffolding in construction site. Image used for illustrative purpose.

Getty Images/ Chaiyaporn Baokaew

19 January 2020

Egypt's Polaris Al Zamil Industrial Parks (PZIP) is planning to start main construction of a 60,000-square-metre (sqm) complex for small and medium enterprises (SMEs) within its Polaris Sadat City master plan in the second quarter, the company's Deputy General Manager, told Zawya projects.

Polaris Sadat City is spread over an area of 1.4 million sqm.

Bassel Shoirah said construction of the SME complex would be completed over a period of 18 months with infrastructure works scheduled to start before the end-January.

Project value wasn't disclosed.

Shoirah said PZIP has sold plots totalling 150,000 sqm in Polaris Sadat City to investors from food, pharmaceuticals, engineering, chemicals, building and service industries.

He also disclosed that Polaris Suez Canal Company, a joint venture between PZIP and Egyptian developer ARDIC, is still awaiting allocation of plot for their industrial zone project in the Suez Canal Economic Zone (SCZone). The project was first announced in December 2018.

(Reporting by Eman Hamed; Editing by Anoop Menon)

(anoop.menon@refinitiv.com)

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