Egypt’s ITIDA Offers Auction For Maadi Tech- Areas Within Days

The Information Technology Industry Development Agency (ITIDA), plans to announce the new auction in order to make the best use of Maadi technological zone areas with usufruct system for fifty years within days.

Eng. Yasser El Kady, CEO of (ITIDA) said his agency will announce the new auction so as to start implementing new buildings in the technological zone, noting that Information and Communication Technology Ministry (MCIT) will announce during days five new buildings with the attend of Dr. Hesham Kandil, the Prime Minister.

El Kady has emphasized that the technological zone expects investments from many foreign firms to provide outsourcing and call center services, explaining that some of them are in the final phase of negotiation with the Ministry to invest in the local market.

El Kady has explained that the Ministry’s and (ITIDA)’s strategy in this current year focuses on increasing the outsourcing investments for job opportunities, emphasizing that (ITIDA) seeks to return Egypt from the largest 5 countries exporting Information Technology (IT) and call centers.

The Ministry aims to finalize launching 5 new buildings in  technological zone to make the total number of buildings 8 ,targeting to establish new axis for (IT) in the investment zone as an international center unit that helps Egypt to create new investment and job opportunities around 100.000 opportunities and 40.000 sites for call center services.

Furthermore, El Kady has asserted that Cabinet approved to extend usufruct period in technological zone to 50 years instead of 30 years, pointing out that it is expected the existing of for foreign  firms to invest in Maadi technological zone within the coming period.