{"id":643460,"date":"2024-09-09T00:00:00","date_gmt":"2024-09-09T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/09\/09\/polaris-parks-to-invest-egp-10-5-bn-to-develop-two-new-industrial-parks\/"},"modified":"2024-09-09T00:00:00","modified_gmt":"2024-09-09T00:00:00","slug":"polaris-parks-to-invest-egp-10-5-bn-to-develop-two-new-industrial-parks","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/09\/09\/polaris-parks-to-invest-egp-10-5-bn-to-develop-two-new-industrial-parks\/","title":{"rendered":"Polaris Parks to invest EGP 10.5 bn to develop two new industrial parks"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Polaris Parks has two new two parks to host 1k factories in the works:<\/strong> Industrial real estate developer Polaris Parks has signed agreements with Industry and Transport Minister Kamel El Wazir to develop two new major industrial parks in Egypt, with the company having allocated EGP 10.5 bn for the projects, Polaris Parks General Manager Bassel Shoirah told <a target=\"_blank\" href=\"https:\/\/www.alarabiya.net\/aswaq\/exclusive\/2024\/09\/08\/-%D8%A8%D9%88%D9%84%D8%A7%D8%B1%D9%8A%D8%B3-%D8%A7%D9%84%D8%AA%D8%B1%D9%83%D9%8A%D8%A9-%D8%AA%D8%B1%D8%B5%D8%AF-10-5-%D9%85%D9%84%D9%8A%D8%A7%D8%B1%D8%A7%D8%AA-%D8%AC%D9%86%D9%8A%D9%87-%D9%84%D8%AA%D8%B7%D9%88%D9%8A%D8%B1-%D9%85%D9%86%D8%B7%D9%82%D8%AA%D9%8A%D9%86-%D8%B5%D9%86%D8%A7%D8%B9%D9%8A%D8%AA%D9%8A%D9%86-%D8%A8%D9%85%D8%B5%D8%B1\" style=\"\" rel=\"noopener\">Al Arabiya Business<\/a>. The first inked agreement was an MoU for an industrial park in the New Administrative Capital and the second was a contract for an industrial park in New October City \u2014 with the projects together set to host a total of 1k factories and create 50k jobs, the company said in a <a target=\"_blank\" href=\"https:\/\/www.polarisparks.com\/post\/a-new-chapter-in-egypt-turkey-economic-collaboration\" style=\"\" rel=\"noopener\">press release<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Polaris Parks has been around for a while, but recent diplomatic efforts are giving the<\/strong><strong> Turkish-Egyptian collaboration a boost: <\/strong>The announcement comes after President Abdel Fattah El Sisi made his first official visit to Turkey last week, in which the agreements for the project were signed, Shoirah said. El Sisi\u2019s visit saw the signing of 18 MoUs, as the two countries seek to deepen cooperation across a number of different sectors including transport, energy, defense, education, tourism, health, culture, agriculture and finance. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What we know so far:<\/strong> Polaris allocated some EGP 6 bn for the project in the New Administrative Capital and EGP 4.5 bn to develop the first phase of its 1.4 mn sqm project in New October City. The company has already been allocated the land for its New October City project and intends to start developing the industrial zone at the beginning of 2025 and complete it within two years. However, the timeline for the project in the New Administrative Capital isn\u2019t as clear, with the company still working out the timeline for implementing the project, Shoirah said.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Polaris has ambitious investment targets:<\/strong> Polaris Parks is aiming to attract some USD 1 bn for the New October City development, Shoirah said. \u201cEach 1 mn sqm we develop attracts investments averaging USD 1.5 bn,\u201d he told Al Arabiya Business, adding that the company is asking the state that it be allocated larger areas of land to help attract more foreign investments to the Egyptian market.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Its New October City project has been in the making for a while: <\/strong>The company initially announced that it had allocated EGP 6 bn to develop a project in New October City back in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/825527bd-5f30-402e-9e80-8f5240ea4e2e\/%253cmark%253epolaris-parks%253c%2Fmark%253e-earmarks-egp-6-bn-for-new-october-city-industrial-zone\" style=\"\" rel=\"noopener\">December<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This isn\u2019t Polaris\u2019 only big project in the works: <\/strong>The company also <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9159a4f4-d428-4edc-9ad9-1a4d19e02d73\/%253cmark%253epolaris%253c%2Fmark%253e-parks-is-set-to-invest-egp-5-bn-in-new-industrial-complexes.-plus:-news-from-saudi-drilling-&amp;-exploration,-jade-textile,-eehc\" style=\"\" rel=\"noopener\">has plans to invest EGP 5<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/9159a4f4-d428-4edc-9ad9-1a4d19e02d73\/%253cmark%253epolaris%253c%2Fmark%253e-parks-is-set-to-invest-egp-5-bn-in-new-industrial-complexes.-plus:-news-from-saudi-drilling-&amp;-exploration,-jade-textile,-eehc\" style=\"\" rel=\"noopener\">bn<\/a> in the local market to set up five industrial complexes in Obour, Tenth of Ramadan, Badr City, New Cairo, and Sadat City, General Manager Bassel Shoirah said last week.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The company will start developing its project in New October City at the beginning of 2025<\/p>\n","protected":false},"author":1,"featured_media":643461,"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":[7255],"tags":[6717,72,131,875,2763],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-643460","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-manufacturing","tag-egypt-turkey-relations","tag-enterpriseam","tag-manufacturing","tag-new-administrative-capital","tag-polaris-parks","wpautop","entry"],"acf":{"mongo_id":"7fde11b9-edfc-41b8-b607-2fc31f69ee22","order":"5","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/8\/924.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Polaris Parks to invest EGP 10.5 bn to develop industrial parks in New October City and the New Administrative Capital","related_issue":[643453],"teaser":"The company will start developing its project in New October City at the beginning of 2025","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/9\/.251987d4-b742-499e-887c-127ff7f22aa3.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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What\u2019s next: The company has made an\u2026","rel":"","context":"In &quot;Manufacturing&quot;","block_context":{"text":"Manufacturing","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/manufacturing\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/12\/868.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":643425,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/09\/08\/turkeys-polaris-parks-to-invest-egp-10-5-bn-in-two-industrial-parks\/","url_meta":{"origin":643460,"position":1},"title":"Turkey\u2019s Polaris Parks to invest EGP 10.5 bn in two industrial parks","author":"enterpriseam admin","date":"8 September 2024","format":false,"excerpt":"Good afternoon, friends, and welcome to what seems to be a slow start of the week on the news front.THE BIG STORY TODAY Polaris Parks to invest EGP 10.5 bn to develop two major industrial parks: Industrial real estate developer Polaris Parks has signed agreements with Industry and Transport Minister\u2026","rel":"","context":"In &quot;WHAT WE\u2019RE TRACKING TONIGHT&quot;","block_context":{"text":"WHAT WE\u2019RE TRACKING TONIGHT","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-tonight\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/8\/924.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":685929,"url":"https:\/\/enterpriseam.com\/egypt\/2026\/03\/08\/polaris-parks-looks-to-attract-usd-2-bn-in-clean-industry-investments-in-planned-new-capital-industrial-zone\/","url_meta":{"origin":643460,"position":2},"title":"Polaris Parks looks to attract USD 2 bn in clean industry investments in planned New Capital industrial zone","author":"enterpriseam admin","date":"8 March 2026","format":false,"excerpt":"Heavy industry will be off limits to avoid a detrimental effect on the wider city","rel":"","context":"In &quot;Also on our Radar&quot;","block_context":{"text":"Also on our Radar","link":"https:\/\/enterpriseam.com\/egypt\/category\/also-on-our-radar\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2026\/3\/377.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":668414,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/07\/15\/polaris-parks-to-develop-egp-2-5-bn-industrial-zone-in-sadat-city\/","url_meta":{"origin":643460,"position":3},"title":"Polaris Parks to develop EGP 2.5 bn industrial zone in Sadat City","author":"enterpriseam admin","date":"15 July 2025","format":false,"excerpt":"The zone is expected to attract investments of around USD 1 bn","rel":"","context":"In &quot;Investment Watch&quot;","block_context":{"text":"Investment Watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/investment-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2025\/7\/923.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":645490,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/07\/20\/polaris-and-cpc-to-bid-for-industrial-parks\/","url_meta":{"origin":643460,"position":4},"title":"Polaris and CPC to bid for industrial parks","author":"enterpriseam admin","date":"20 July 2017","format":false,"excerpt":"Polaris International Industrial Parks and Construction Products Holding Company (CPC) will both be bidding on industrial park projects in Upper Egypt, according to Al Borsa. The contracts are for the management and development of three ready-made industrial parks that are part of an Industrial Development Authority initiative. Conditions for the\u2026","rel":"","context":"In &quot;Manufacturing&quot;","block_context":{"text":"Manufacturing","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/manufacturing\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":601774,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/03\/10\/polaris-parks-to-deliver-first-phase-of-bosla-smes-complex-in-april\/","url_meta":{"origin":643460,"position":5},"title":"Polaris Parks to deliver first phase of Bosla SMEs complex in April","author":"enterpriseam admin","date":"10 March 2019","format":false,"excerpt":"Industrial developer Polaris Parks is planning to deliver the EGP 450 mn first phase of Bosla SME\u2019s industrial complex west of Cairo to investors in April, local press reported. The company will begin working in the second phase in 2H2019.","rel":"","context":"In &quot;Infrastructure&quot;","block_context":{"text":"Infrastructure","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/infrastructure\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/643460","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=643460"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/643460\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/643453"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/643461"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=643460"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=643460"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=643460"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=643460"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=643460"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}