Cairo – Muabsher: The board of the General Authority for Investment and Free Zones (GAFI) agreed on establishing three investment zones in Cairo, Qalyubia, and 6th of October.
An investment zone specialised in small and medium-sized businesses (SMBs) will be set up in Qalyubia’s Al Khankah on a 36-acre area, investment minister Sahar Nasr said in a statement on Wednesday.
Nasr highlighted that the two proposed offers of Majid Al Futtaim Real Estate Misr have been approved.
These offers will cover establishing two investment areas in 6th of October’s Mall of Egypt and Almaza’s City Center on a 399,400 square feet area and a 123,600 square feet area, respectively, she added.
Nasr indicated that Ministry of Investment targets foreign direct investment of $10 billion during fiscal year 2017/2018.
On 14 September 2017, the GAFI approved setting up four investment zones in Suez and Luxor.
