Egypt’s Polaris awaits licenses to start second phase of Bosla industrial complex

Industrial developer Polaris Parks is waiting to receive essential licenses to the start construction of Bosla 2 industrial complex in the 6th of October City in December, the company’s Deputy General Manager told Zawya Projects.

The Bosla integrated industrial zone project targets the small and medium enterprises (SME) sector with ‘Plug & Play’ units that could serve as industrial units or warehouses, according to past statements from PZIP.

Bassel Shoirah said the 42,000-square metre (sqm), 62-unit Bosla 2 is expected to cost 250 million pounds ($16 million), the same as the 55,000 sqm of Bosla 1.

At the beginning of January, the company has laid the foundation stone for Bosla 2 for SMEs, he added.

PZIP is a joint venture between Polaris International Industrial Parks, a Turkish-Egyptian venture and Saudi Arabia-based investment company Zamil-Holding.

Shoeira also noted that the company’s business is currently on 10 million squares metres, including 3.1 msqm in the Sixth of October City, 55,000 sqm in Bosla SMEs complex,1.4 msqm in Sadat City,300,000 sqm in Beni Suef, in addition to 5.5 msqm in Ain Sokhna.