New industrial lands to be offered in January in Egypt

The Industrial Development Authority will offer new industrial lands in the new cities in January as part of the new regulations aiming at boosting industrial development, Head of the Authority Ismail Gaber said Wednesday.
As per the new regulations, investors should present a detailed study on the project he wants the land for and a specialized committee will study the needs of industry before approving not the request, Gaber said in a statement after meeting the association of New Dameitta investors.
Industrial lands are not considered an investment for the authority but it is a tool to boost industrial development, he said.
He said a committee comprising experts from the authority and Urban Communities Authority will price industrial lands in a way that will encourage manufacturers buy new lands.