Egyptian Emirates launches EGP 27bn Markabat project for automotive industries – Dailynewsegypt
The Egyptian Emirates Company has launched the Markabat project, the first integrated industrial city for automotive feeder industries, with joint Egyptian-Emirati investments. This strategic initiative aligns with Egypt’s urban and industrial development plans, representing a significant investment of EGP 27bn over three years.
Alaa Ali, Chief Commercial Officer at the Egyptian Emirates Company, emphasized the company’s extensive experience in the Egyptian, Emirati, and Chinese markets. Their goal is to expand and increase investments within Egypt.
The Markabat project is the first of its kind in the Middle East, covering an initial phase of 140,000 square meters with EGP 2bn in investments. Over the next three years, the total area is expected to reach 3 billion square metres, encompassing diverse activities in the food and engineering industries.
Confident in Egypt’s economy and investment potential, the Egyptian Emirates Company aims to achieve sales worth EGP 6bn by 2024. In the project’s first phase, they offer ready factories ranging from 500 to 3,000 square meters, customized to meet customer needs. Flexible payment plans, with instalment options up to 10 years, ensure accessibility for investors.
Strategically located on the Cairo-Asyut Desert Road, the project is just 15 minutes from Helwan, 60 kilometres from the New Administrative Capital, and 100 kilometres from Ain Sokhna Port. It benefits from excellent connectivity via the Regional Ring Road, Cairo-Ain Sokhna Road, and the Fayoum-October Road.
The Markabat project includes smart services, robust infrastructure, security measures, and modern surveillance systems. Approximately 20% of the project has been completed, with plans to finish all execution works within a year, adhering to the highest global standards and specifications.
Furthermore, the Egyptian Emirates Company aims to collaborate with major global brands, having already contracted with Emirati company HAMCO to participate in this ambitious venture.