Housing Ministry earmarks 5.6 mln sqm for investors in Egypt’s New Toshka City

Egypt’s Housing Ministry has allocated three land plots over 5.6 million square metres for a number of investors in New Toshka City, 1km far from southeast of Aswan, said Minister Moustafa Madbouly on Wednesday.

In 2016, Egyptian President Abdel Fattah al-Sisi issued a decree allocating 922 feddans in Toshka to the New Toshka development flagship, which is now part of 1.5 million-Feddan Project.

On December 30, 2015, Sisi launched in Farafra the 1.5 million-Feddan Project, which is one of mega national flagships and the pillars of a step toward the future. It is set achieve sustainable development.

This project is a model for the modern Egyptian countryside that will be a model for a series of villages, addressing the problems of the past and invest the present elements.

“We (Housing Ministry) have assigned a land plot on a space of 167 feddans in favour of the state’s Al Abbas Import, Export, and Trading Agencies Company to establish a logistics area in New Toshka City’s industrial zone,” Madbouly noted.

As for the second land plot, the Egyptian minister referred that his ministry has allocated 1,000 faddans for Al Arabia for Meat in order to execute an agricultural activity at the east of New Toshka City.

“We (the ministry) have earmarked the third land plot on a space of 166 faddans in favour of a Chinese investors’ assembly in Egypt to carry out a bunch of factories in different industries in New Toshka City’s industrial zone,” he said.