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Tuesday, 12 March 2019

IDA to tender 4 mn sqm of land in Sadat and Borg El Arab by September

The Industrial Development Authority (IDA) is planning to tender 4 mn sqm of land for industrial investors in Sadat and Borg El Arab cities in August or September, sources from the authority say, according to Al Mal. The land, 2 mn sqm in each city split into smaller plots of 2-4k sqm, will come at a price of no more than EGP 700 per sqm, the sources estimate. The tender was expected to launch in March, but was delayed amid now-resolved conflicts between the IDA and the New Urban Communities Authority.

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