Polaris Parks to expand with $120m project in Egypt

By Aya El Sayed On Aug 1, 2024

Hassan Al-Khatib, Minister of Investment and Foreign Trade, met with a delegation from Polaris Parks Company, which specialises in developing industrial zones, which included Tunç Ozkan, Chairman of the Company’s Board of Directors, and Basil Shaira, General Manager of the company.

Polaris Parks plans to invest around $120 million in a new development project in Egypt’s New October City, Hassan El-Khatib, Egypt’s Minister of Investment and Foreign Trade, revealed on Thursday.

The company is also considering expansion into the New Administrative Capital (NAC) through partnerships with the Administrative Capital Urban Development Co. (ACUD) to develop industrial lands.

Polaris Park, known for its expertise in industrial zone development, has already invested $4.5 billion in Egypt, with a portfolio including 12 projects spanning 7 million square metres in key Egyptian cities such as the 10th of Ramadan, the 6th of October, and Sadat City.

In addition, El-Khatib announced plans for a promotional visit to Turkey in September, coinciding with the Egypt-Turkey Business Council. The visit aims to showcase investment opportunities in Egypt and attract further Turkish investment into the Egyptian market.

Attribution: the Egyptian Cabinet