IDA to launch 5 m² of land for investors in Q3

The Industrial Development Authority (IDA) is studying the possibility of launching 5 million metre square by the end of the third quarter of the current year according to a source with knowledge.

The source told Amal Al Ghad that these pieces of lands include the one million metre square land plots that have been withdrawn from the not so serious investors during the last period due to the lack of commitment to the implementation of agreed projects on time according to contracts.

Around four million square meters will be located in the 10th of Ramadan district. Another two million will be launched in the industrial zone of Sadat City.

After launching these plots for the investors, The total amount of land plots launched by IDA would reach 36.5 million metre square between 2016 and 2018 among the authority’s plan to launch 60 million sqm by the end of 2020.