Damietta Furniture City company is set to launch the second phase of the industrial land plots allocated to establish factories in Damietta Furniture City on December 18 , the company Chairman Osama Saleh said.
The launch of 100,000 metre square represents 17 percent of the total value of land plots assigned for industrial activities in the project, he added. The land plots are fully utilized with payment facilities that reach to 3 years .
Saleh added that the new city would participate in increasing sector’s exports and upgrading furniture industry.
the reservation of the land plots in the first phase of 100,000 meter square has been stopped last month. In addition the first phase of workshops and industrial land plots would be delivered during the first quarter of 2018.
Damietta Furniture City will be established on a 331 acre plot and is expected to produce 25,000 job opportunities as well as another 40,000 jobs indirectly.
The project aims at developing the industry of furniture by using modern technology. The estimated cost of the Damietta Furniture City project ranges between LE 4.5 to LE 5 billion.
The Damietta Furniture City Project, launched in 2015, is being built on 331 acres of land, and is expected to include at least 2000 workshops and 55 factories. The project is set to provide over 40,000 direct jobs and 120,000 indirect jobs, as well as boasting a capacity of 2,400 furniture factories and workshops, the trade ministry announced in July 2015.