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Thursday, 5 May 2016

Internal Trade Development Authority tenders 1.6 mn sqm for retail outlet development

The Internal Trade Development Authority (ITDA) has issued a tender for 1.6 mn sqm of land for the development of retail outlets and logistical centres in eight governorates, according to a statement from the Supply Minister. The land is part of phase two of a strategy to facilitate land for retail development. Phase one saw EGP 6 bn invested in land for retail outlets by investors from the GCC, France, and the US, according to Supply Minister Khaled Hanafi. The ITDA had been authorized to tender the land by the New Urban Communities Authority, which granted it 600 feddans (2.5 mn sqm) in total for both phases in 18 cities, Al Borsa reports.

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