Chinese textile giant Jasan Group breaks ground on USD 117 mn Qantara West complex

China’s Jasan Group broke ground on its USD 117 mn Qantara West textile complex, according to a Suez Canal Economic Zone statement. The investment ticket is higher than the USD 100 mn announced when the group signed the project agreement last December. The megaproject will be developed in three phases, establishing an integrated industrial hub spanning yarn spinning, weaving, seamless sportswear, hosiery, dyeing, and accessories. The complex is highly export-oriented, with 90% of its total output earmarked for global markets.

IN CONTEXT- Qantara West currently hosts 54 projects from nine nationalities worth around USD 1.54 bn, including 43 textile and ready-made garment projects.

Next of KIN in New Cairo

Local developer Imarrae started construction on the first phase of its EGP 22 bn+ KIN residential development in New Cairo, according to a press release. The first phase is slated for delivery by 2030, with full project completion targeted for 2033.

The details: The 23-feddan development will include 434 homes, with townhouses accounting for around 80% of the units and apartments making up the rest. Qatar’s Rabat Building Contracting is carrying out construction, while UAE-based Al Asri Engineering Consultant developed the architectural design. Imarrae put the project at EGP 16 bn when it launched last November, marking the developer’s first residential play in New Cairo.

More on our radar:

• Korra Energi secured a EUR 15.4 mn turnkey contract for Yazaki EDS Egypt’s wiring-harness plant — a 67k-sqm automotive facility in Fayoum. The contract value is capped at EUR 16.68 mn based on final works executed. (EGX disclosure, pdf)

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