Investments in Egypt’s Smart Village hit $1.3bn

The total investments in Egypt’s Smart Village worth around 10 billion Egyptian pounds (US$1.27 billion), Adel Danish- chairman of Smart Villages Development and Management Company- told Amwal Al Ghad Tuesday.

He stated that there are more than 160 firms are working in the Smart Village.

Danish -also the CEO- added that the Smart Village is the ‘ideal solution’ for all problems that face investing in Egypt since it provides the success factors for investment system through creating business environment that meet company’s needs.

Smart Villages Company targets increasing the current offices area , which is estimated at 500,000 square meters, to one million square meters, the chairman noted.

There are around 50,000 persons visit the Smart Village daily, Danish clarified, expecting this number to reach 100,000 within the upcoming period.

Chairman Danish pointed out that the Smart Village has started designing new model that allow small and micro-sized companies to rent offices there or participate in renting them within determined schedules of the year.

Hence, the small and micro-sized firms will join the environment with businesses include major investors.

Danish asserted that the model which Smart Village intend to apply is a kind of supporting emerging and micro-sized companies to integrate with business environment and large firms.

Moreover, Smart Village is located on the Cairo-Alexandria Desert Road in the Abu Rawash area to the west of the capital. It occupies an area of 450 Feddans including 317 feddans for the administrative buildings and green spaces, as well as a lake area and waterfalls.