{"id":618393,"date":"2024-04-08T00:00:00","date_gmt":"2024-04-08T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/04\/08\/turkeys-dnm-inks-contract-to-set-up-denim-factory-plus-news-from-heliopolis-housing-indrive-air-arabia\/"},"modified":"2024-04-08T00:00:00","modified_gmt":"2024-04-08T00:00:00","slug":"turkeys-dnm-inks-contract-to-set-up-denim-factory-plus-news-from-heliopolis-housing-indrive-air-arabia","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/04\/08\/turkeys-dnm-inks-contract-to-set-up-denim-factory-plus-news-from-heliopolis-housing-indrive-air-arabia\/","title":{"rendered":"Turkey\u2019s DNM inks contract to set up denim factory. PLUS: News from Heliopolis Housing, InDrive, Air Arabia"},"content":{"rendered":"<p style=\"padding:0;margin:0;font-family:\" arial\";line-height:1.15;orphans:2;widows:2;text-align:left\"=\"\">\n<p class=\"tag-border-left\"> MANUFACTURING-<\/p>\n<p style=\"padding:0;margin:0;font-family:\" arial\";line-height:1.15;orphans:2;widows:2;text-align:left\"=\"\"> <strong>Turkey\u2019s DNM inks contract for denim factory: <\/strong>The General Authority of the Suez Canal Economic Zone (SCZone) andthe Turkish <a target=\"_blank\" href=\"https:\/\/dnmdenim.com\/about\/\" style=\"\" rel=\"noopener\">DNM Textile for Spinning, Weaving and Dyeing<\/a> have signed the contract under which DNM will set up a USD 40 mn denim factory in Qantara West Industrial Zone, according to a <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/story.php?story_fbid=908347081335713&id=100064812882317&mibextid=WC7FNe&rdid=cNIWihmWzexNR4F4\" style=\"\" rel=\"noopener\">statement<\/a>. The company \u2014 an investment venture of Turkish clothing firm Eroglu Holding \u2014 plans to begin construction of the factory in June and begin operations in early 2025, the statement read.<\/p>\n<p style=\"padding:0;margin:0;font-family:\" arial\";line-height:1.15;orphans:2;widows:2;text-align:left\"=\"\"><strong>ICYMI:<\/strong> DNM <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ce89f5d7-083f-4cb7-9cbc-8fe5c1249f18\/sczone-greenlights-new-industrial-projects\" style=\"\" rel=\"noopener\">last month<\/a> received approval to move forward with the denim factory as well as an industrial complex for spinning, weaving, clothing, mattress, and furnisher production. Some 70% of the denim factory\u2019s production will be exported. This came after Eroglu Egypt \u2014 the local arm of the Turkish Eroglu Holding \u2014 received approval to build a USD 150 mn ready-made clothing factory in Qantara West Industrial Zone, under a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6d22b157-fea2-45f8-9b75-2242a6952327\/sczone-inks-framework-agreements-for-five-industrial-projects\" style=\"\" rel=\"noopener\">framework agreement<\/a> inked with the SCZone. <\/p>\n<p style=\"padding:0;margin:0;font-family:\" arial\";line-height:1.15;orphans:2;widows:2;text-align:left\"=\"\">\n<p class=\"tag-border-left\">REAL ESTATE-<\/p>\n<p style=\"padding:0;margin:0;font-family:\" arial\";line-height:1.15;orphans:2;widows:2;text-align:left\"=\"\"><strong>Heliopolis Housing lines up four offers for New Heliopolis project:<\/strong> Heliopolis Housing and Development (HHD) has received offers from local developers Hyde Park Developments, La Vista Developments, Madinet Masr, and Mountain View to develop 500 feddans in New Heliopolis, sources with knowledge of the matter reportedly told <a target=\"_blank\" href=\"https:\/\/www.asharqbusiness.com\/article\/62465\/%D9%85%D8%B5%D8%B1-%D8%A7%D9%84%D8%AC%D8%AF%D9%8A%D8%AF%D8%A9-%D9%84%D9%84%D8%A5%D8%B3%D9%83%D8%A7%D9%86-%D8%AA%D8%AA%D9%84%D9%82%D9%89-%D8%B9%D8%B1%D9%88%D8%B6%D8%A7-%D9%84%D8%AA%D8%B7%D9%88%D9%8A%D8%B1-500-%D9%81%D8%AF%D8%A7%D9%86-%D8%A8%D9%86%D8%B8%D8%A7%D9%85-%D8%A7%D9%84%D9%85%D8%B4%D8%A7%D8%B1%D9%83%D8%A9\/\" style=\"\" rel=\"noopener\">Asharq Business<\/a>. The project will be built on land worth EGP 10 bn, the sources said, adding that HHD will review the offers next week.<\/p>\n<p style=\"padding:0;margin:0;font-family:\" arial\";line-height:1.15;orphans:2;widows:2;text-align:left\"=\"\"><strong>Sound familiar? <\/strong>CEO Sameh El Sayed said <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1863d30d-e2c5-4721-8879-3f85b05ac31b\/a-ton-of-real-estate-news-from-acud,-talaat-moustafa,-heliopolis-housing\" style=\"\" rel=\"noopener\">in March<\/a> that HHD had received four offers for the project without providing the names of the firms and adding that an unnamed UK firm wants to build an outlet mall for commercial brands in New Heliopolis. Madinet Masr also submitted an offer to develop three land plots in New Heliopolis <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/490cdbcf-937b-4b6d-9ce9-9eb0ce115145\" style=\"\" rel=\"noopener\">last month<\/a>.<\/p>\n<p style=\"padding:0;margin:0;font-family:\" arial\";line-height:1.15;orphans:2;widows:2;text-align:left\"=\"\">\n<p class=\"tag-border-left\"> STARTUPS-<\/p>\n<p style=\"padding:0;margin:0;font-family:\" arial\";line-height:1.15;orphans:2;widows:2;text-align:left\"=\"\"><strong>InDrive to invest in local startups: <\/strong>Global ride-hailing app InDrive is looking to invest some USD 10 mn in Egyptian startups \u201cin the coming period,\u201d Chief Growth Officer Evgenia Matrosova told <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/33mawwu9\" style=\"\" rel=\"noopener\">Al Arabiya Business<\/a>. The firm has a department dedicated to finding promising startups that it could invest in or acquire, Matrosova explained. <\/p>\n<p style=\"padding:0;margin:0;font-family:\" arial\";line-height:1.15;orphans:2;widows:2;text-align:left\"=\"\">\n<p class=\"tag-border-left\">AVIATION-<\/p>\n<p style=\"padding:0;margin:0;font-family:\" arial\";line-height:1.15;orphans:2;widows:2;text-align:left\"=\"\"><strong>That Istanbul getaway you\u2019ve been planning may have just gotten a bit cheaper: <\/strong>The Egyptian arm of Emirati budget airline Air Arabia launched its first flight connecting Cairo and Istanbul this month, the airline said in a <a target=\"_blank\" href=\"https:\/\/press.airarabia.com\/ar-ae\/%D8%A7%D9%84%D8%B9%D8%B1%D8%A8%D9%8A%D8%A9-%D9%85%D8%B5%D8%B1-%D8%AA%D8%B7%D9%84%D9%82-%D8%B1%D8%AD%D9%84%D8%A7%D8%AA-%D9%85%D8%A8%D8%A7%D8%B4%D8%B1%D8%A9-%D8%A8%D9%8A%D9%86-%D8%A7%D9%84%D9%82%D8%A7%D9%87%D8%B1%D8%A9-%D9%88%D8%A7%D8%B3%D8%B7%D9%86%D8%A8%D9%88%D9%84\/\" style=\"\" rel=\"noopener\">statement<\/a>. The carrier will offer three weekly flights between the two cities.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>DNM last month received approval to move forward with the denim factory<\/p>\n","protected":false},"author":1,"featured_media":618394,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7209],"tags":[8518,111,528,72,157,6658,131,83,123,416],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-618393","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-also-on-our-radar","tag-air-arabia","tag-also-on-our-radar","tag-aviation","tag-enterpriseam","tag-heliopolis-housing-and-development","tag-indrive","tag-manufacturing","tag-real-estate","tag-startups","tag-suez-canal-economic-zone","wpautop","entry"],"acf":{"mongo_id":"8fd7a821-8540-45ef-bd35-6e788105d89a","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/4\/729.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Turkey\u2019s DNM inks contract to set up denim factory in Egypt","related_issue":[618378],"teaser":"DNM last month received approval to move forward with the denim factory","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/4\/.340573f0-884e-4ffe-9bf8-710b966c9f35.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Turkey\u2019s DNM inks contract to set up denim factory. 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