Polaris, ARDIC, SIAC to develop infrastructure for 1 mn sqm in SCZone

A consortium of Polaris Al Zamil, ARDIC for Real Estate and Developments and SIAC Holding has begun developing infrastructure for 1 mn sqm in the Suez Canal Economic Zone (SCZone), Polaris Deputy General Manager Bassel Shuaira said. The project was part of an MoU signed between the consortium and the SC Authority in 2017 to develop 5.5 mn sqm in the zone. The project aims to attract USD 3.5 bn in investments to the area over 15 years. The land was allocated on a right-to-use basis for 50 years.