IDA extends deadline for its 790 land plots offering

The Industrial Development Authority (IDA) has extended the initiative offering 790 new industrial land plots, as more investors are showing interest, IDA announced yesterday.

The investment opportunity for the industrial lands announced by IDA extend over 14 governorates, the allocated lands has a total area of ​​1.7 million square meters.

Interested investors now have until 14 September to take out the tender conditions booklet for the plots instead of 6 September, and until 27 September to apply for the plots electronically via the IDA website.

Mohamed Abdel-Karim, IDA’s chairman, previously announced that the lands are earmarked for 152 investment opportunities in industrial sectors and is part of Egypt’s plan to narrow the $30 billion trade gap.

The Egyptian government is also aiming to collect $5 billion by offering shares of some state-owned companies to strategic investors from October 2023 until the end of June 2024. This was published in a recent report on the Government’s IPO (Initial Public Offering) Program by the Cabinet's Information and Decision Support Center (IDSC).