Egypt invests EGP 4.8b in mega commercial projects in Beni Suef, Sharqia
The Egyptian Ministry of Supply and Internal Trade is set to embark on ambitious commercial development projects in Beni Suef and Sharqia governorates, allocating 4.8 billion Egyptian pounds.
The move is part of an initiative to drive economic growth through job creation and strengthened trade infrastructure.
The projects will leverage public-private partnerships, which Minister Farouk emphasised as critical to achieving Egypt’s economic objectives, as per a Cabinet statement on Monday.
Beni Suef:
- El Kureimat Area: With investments worth around 3.8 billion pounds, a sprawling 47-feddan complex will be developed, featuring wholesale markets, recreational areas, a sports club, training centres, government services, and pharmaceutical warehouses. This project is estimated to create 30,000 direct and indirect jobs.
- Masnaa Al Talg Area: A smaller-scale development, this project will encompass a commercial centre, hypermarket, and exhibition spaces. It is expected to generate 400 million pounds in investment.
Sharqia:
- Al Asluji Area: A 4-feddan site will be developed to include various commercial centres and dining establishments. This project is anticipated to create 2,500 direct and indirect jobs.
These projects are part of a larger initiative managed by the Internal Trade Development Authority (ITDA), which oversees over 18 internal trade projects across 12 governorates, with an investment exceeding 60 billion Egyptian pounds.
This collaboration aims to enhance the commercial landscape, boost investments, improve sector services, and incorporate digital technology to increase market access. Expected to be completed within two years, the new centres will support efficient product distribution, stabilise prices, and improve quality, aligning with the Ministry’s commitment to advancing Egypt’s internal trade landscape.
Attribution: The Egyptian Cabinet
Subediting: Y.Yasser
