New round of industrial land offerings to kick off 1 March

Hello all you wonderful people, and happy Sunday. We have a packed issue for you today, so without further ado, let’s get into it.

THE BIG STORY TODAY

A new round of industrial land offerings goes live 1 March: The Industry Ministry is offering 2.2k small, medium, and large industrial land plots covering a cumulative 13 mn sqm across 22 governorates through Industrial Digital Platform from 1 to 7 March, according to a ministry statement.

This round is set to see some changes: The new offering will see the ministry launch the second phase of the Industrial Digital Platform’s development, with three additional services — building permits, zoning permits, and industrial registration — added to the platform’s menu of services. Interested investors can also now apply for one primary and one alternative land plot, offering investors a higher likelihood of receiving a plot, according to the statement.

Remember: The government has been trying to address a lack of industrial land — as well as widespread land hoarding — by offering significant swathes of land to investors via a newly launched digital platform, amid a wider regulatory reset to assure that industrial land is being used effectively. The IDA most recently offered over 2.6k land plots in December, spanning 15.2 mn sqm across 37 industrial zones in 24 governorates.

THE BIG STORY ABROAD

It’s a busy news day in the int’l press, with no one news story dominating headlines.

Germans are heading to the polls this morning in an election that is widely expected to see strong performance from Germany’s rightwing parties — particularly Friedrich Merz’s center-right CDU/CSU bloc and far-right Alternative for Germany (AfD), Reuters reports. The elections follow the collapse of German chancellor Olaf Scholz's center-left SPD coalition amid budget disputes, which could result in the party’s worst showing in its post-WWII history. Meanwhile, current polls suggest complex coalition negotiations could leave Scholz in a caretaker role for months — certainly if smaller parties cross the 5% threshold to enter the parliament, the Financial Times reports.

Israel violates ceasefire agreement with prisoner release delay: Israel has delayed the release of over 600 Palestinian prisoners set to be freed on Saturday as part of the country’s ceasefire agreement with Hamas, the Financial Times reports. Israeli prime minister Benjamin Netanyahu’s office justified the move by accusing Hamas of “repeated violations” and “cynical exploitation” of Israeli hostages for “propaganda purposes” in a post on X, adding that the Israeli government would hold off on releasing the prisoners until Hamas released the next round of hostages.

And over in Vatican City, 88-year-old Pope Francis is in critical condition while attempting to recuperate from what has been reported to be double pneumonia, Reuters reports. The spiritual leader of the world’s Catholics has been unable to give his usual Sunday sermon in St Peter’s Square since being admitted to the hospital on 14 February.

** CATCH UP QUICK on the top stories from today’s EnterpriseAM:

• CBE keeps interest rates unchanged during its first meeting of the year: The Central Bank of Egypt’s Monetary Policy Committee (MPC) decided to keep interest rates unchanged when it held its first meeting of the year on Thursday. The move marks the seventh consecutive meeting where the committee declined to cut rates.
• Trump walks back his plans for Gaza amid regional pushback: US president Donald Trump appeared to take back his plan to displace Gaza’s 2 mn citizens. “I'll tell you, the way to do it is my plan. I think that's the plan that really works. But I'm not forcing it. I'm just going to sit back and recommend it.”
• Local gas production dipped to an eight-year low of 4.87 bn cubic feet per day (bcf/d) in 2024, shedding 16%, or nearly 1 bcf/d, y-o-y.

*** It’s Inside Industry day — your weekly briefing of all things industrial in Egypt. Inside Industry focuses each Sunday on what it takes to turn Egypt into a manufacturing and export powerhouse, ranging from initial investment and planning to product distribution, through to land allocation to industrial processes, supply chain management, labor, automation and technology, inputs and exports, regulation and policy.

In today’s issue: We take a look at manufacturers’ priorities ahead of planned reforms to the government’s customs regulations.

☀️ TOMORROW’S WEATHER- We’re back to chilly weather as temperatures cool in the capital tomorrow, with the mercury set to rise to 16°C in the morning and 7°C at night, according to our favorite weather app.