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Wednesday, 6 December 2017

US’ Vernbro Global breaks ground on EGP 6 bn Downtown Tanta logistics, retail hub

US real estate developer Vernbro Global broke ground on an EGP 6 bn mixed-use project in Tanta for the Supply Ministry, which it expects to inaugurate by 2020, Daily News Egypt reports. Vernbro was contracted for the project after securing an Internal Trade Development Authority tender. The project — dubbed Downtown Tanta — spans 340k sqm and includes a commercial, logistics, and retail hub. It is the first logistics complex from the ministry’s new internal trade strategy to drive down costs and spoilage of commodities, which Minister Ali El Moselhy unveiled in September.

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