Egypt’s GAFI Oks new increases for land utilisation in free zones

Egypt’s General Authority of Investment and Free Zones’ (GAFI) board has approved new increases in the utilisation value of the square metre for all current projects in free zones, except those in Qaft city free zone.

The new increases are going to be $5 for the square meter for industrial purposes, $9/m2 for storing and serving purposes, $18/m2 for second hand auto trading, and $28/m2 for prefabricated buildings.

The new price hikes also covered vacant land spaces that have been improved recently: $7/m2 for industrial purposes, $11/m2 for storing and serving purposes, $20/m2 for second hand trading, and $30/m2 for prefabricated buildings.

The meeting of GAFI’s board, which was held on Tuesday and chaired by Minister of Investment and International Cooperation Sahar Nasr, also addressed the preparations for the Africa 2019 conference, which is going to kick off on 22 November under the patronage of the President Abdel Fattah al-Sisi in the country’s New Administrative Capital.

It also discussed the campaigns that GAFI is preparing to promote investment opportunities, particularly in national mega-projects.

Source: Ahram Online