IDA warns 26 1,000 factories project investors of withdrawing land plots over delays

The Industrial Development Authority (IDA) has warned 26 investors in New Cairo’s 1,000 factories projects it would withdraw their allocated land plots over delays in completing construction, the head of the Association of Investors for Small and Medium Enterprises (AISME) Hesham Kamal tells Al Borsa. The warnings come after IDA gave the uncommitted investors two three-month ultimatums to address their delays, which they blame on the impact of the EGP float, according to Kamal.