MWS to finalise logistic zone in Egypt’s Damanhour in 3yrs

Egypt’s newly-established trade investment and development firm, MWS says it plans to complete a new logistics zone in Damanhour city, 160km (99.4 miles) northwest of Cairo within three years.

With investments of 2 billion Egyptian pounds ($120.3 million), the new zone will be established over 107.500 square metres, MWS’ managing director Mohamed Shabaan told Amwal Al Ghad on Sunday.

The zone will include several projects in addition to a central logistics hub, hypermarket, free shopping areas, aqua park, hotel, and hospital as well as entertainment and sports areas, cars showroom, maintenance centre, besides cinemas, Shabaan added.

Founded in February, MWS is a joint venture between four companies operating in construction, land reclamation, and real estate marketing sectors, with investments of around 10 billion pounds.