{"id":643975,"date":"2024-09-18T00:00:00","date_gmt":"2024-09-18T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/09\/18\/sczone-eyes-usd-60-mn-data-center-project-partnership-with-private-sector-plus-spe-capital-valu-majid-al-futtaim-tatweer-misr-cushman-wakefield\/"},"modified":"2024-09-18T00:00:00","modified_gmt":"2024-09-18T00:00:00","slug":"sczone-eyes-usd-60-mn-data-center-project-partnership-with-private-sector-plus-spe-capital-valu-majid-al-futtaim-tatweer-misr-cushman-wakefield","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/09\/18\/sczone-eyes-usd-60-mn-data-center-project-partnership-with-private-sector-plus-spe-capital-valu-majid-al-futtaim-tatweer-misr-cushman-wakefield\/","title":{"rendered":"SCZone eyes USD 60 mn data center project partnership with private sector. PLUS: SPE Capital, Valu + Majid Al Futtaim, Tatweer Misr, Cushman &#038; Wakefield"},"content":{"rendered":"<p class=\"tag-border-left\">INFRASTRUCTURE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>SCZone wants to set up a USD 60 mn data center: <\/strong>The Suez Canal Economic Zone wants to set up a USD 60 mn data center with a capacity of 5-7 MW in partnership with the private sector, <a target=\"_blank\" href=\"https:\/\/almalnews.com\/premium\/%d8%a7%d9%82%d8%aa%d8%b5%d8%a7%d8%af%d9%8a%d8%a9-%d9%82%d9%86%d8%a7%d8%a9-%d8%a7%d9%84%d8%b3%d9%88%d9%8a%d8%b3-%d8%aa%d8%b7%d8%b1%d8%ad-%d9%85%d8%b4%d8%b1%d9%88%d8%b9%d9%8b%d8%a7-%d9%84%d8%a5%d9%86\/\" style=\"\" rel=\"noopener\">A<\/a><a target=\"_blank\" href=\"https:\/\/almalnews.com\/premium\/%d8%a7%d9%82%d8%aa%d8%b5%d8%a7%d8%af%d9%8a%d8%a9-%d9%82%d9%86%d8%a7%d8%a9-%d8%a7%d9%84%d8%b3%d9%88%d9%8a%d8%b3-%d8%aa%d8%b7%d8%b1%d8%ad-%d9%85%d8%b4%d8%b1%d9%88%d8%b9%d9%8b%d8%a7-%d9%84%d8%a5%d9%86\/\" style=\"\" rel=\"noopener\">l M<\/a><a target=\"_blank\" href=\"https:\/\/almalnews.com\/premium\/%d8%a7%d9%82%d8%aa%d8%b5%d8%a7%d8%af%d9%8a%d8%a9-%d9%82%d9%86%d8%a7%d8%a9-%d8%a7%d9%84%d8%b3%d9%88%d9%8a%d8%b3-%d8%aa%d8%b7%d8%b1%d8%ad-%d9%85%d8%b4%d8%b1%d9%88%d8%b9%d9%8b%d8%a7-%d9%84%d8%a5%d9%86\/\" style=\"\" rel=\"noopener\">al<\/a> reports, citing unnamed government sources. The General Authority for Investment and Freezones will promote the project to local and foreign investors and the SCZone will provide all the necessary services for the project in terms of logistics and infrastructure, qualified labor, and a package of incentives. <\/p>\n<p class=\"tag-border-left\">INVESTMENT-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p><strong>Egypt is no stranger to data centers: <\/strong>Egypt was among the countries that helped push expectations that Africa\u2019s data center market size <a target=\"_blank\" href=\"https:\/\/www.globenewswire.com\/news-release\/2020\/08\/04\/2072600\/0\/en\/The-Africa-data-center-market-by-revenue-is-expected-to-grow-at-a-CAGR-of-over-12-during-the-period-2019-2025.html\" style=\"\" rel=\"noopener\">will grow<\/a> at a compound annual growth rate of 12% between 2019 and 2025 to surpass USD 3 bn by 2025. Egypt currently has <a target=\"_blank\" href=\"https:\/\/www.datacentermap.com\/egypt\/\" style=\"\" rel=\"noopener\">14 data centers<\/a>.<\/p>\n<p><strong><br \/><\/strong><\/p>\n<p><strong>Brace for more Egypt investments from SPE Capital: <\/strong>Private equity firm SPE Capital plans to allocate 25-33% of its USD 350 mn SPE PEF III \u2014 a private equity fund that focuses on mid-cap companies in Africa \u2014 to Egyptian investments, partner Ahmed Eloraby told <a target=\"_blank\" href=\"https:\/\/almalnews.com\/premium\/%d8%b4%d8%b1%d9%83%d8%a9-spe-%d8%aa%d8%b9%d8%aa%d8%b2%d9%85-%d8%aa%d8%ae%d8%b5%d9%8a%d8%b5-25-33-%d9%85%d9%86-%d8%aa%d8%a7%d8%a8%d8%b9%d9%87%d8%a7-%d8%a7%d9%84%d8%ab\/\" style=\"\" rel=\"noopener\">A<\/a><a target=\"_blank\" href=\"https:\/\/almalnews.com\/premium\/%d8%b4%d8%b1%d9%83%d8%a9-spe-%d8%aa%d8%b9%d8%aa%d8%b2%d9%85-%d8%aa%d8%ae%d8%b5%d9%8a%d8%b5-25-33-%d9%85%d9%86-%d8%aa%d8%a7%d8%a8%d8%b9%d9%87%d8%a7-%d8%a7%d9%84%d8%ab\/\" style=\"\" rel=\"noopener\">l M<\/a><a target=\"_blank\" href=\"https:\/\/almalnews.com\/premium\/%d8%b4%d8%b1%d9%83%d8%a9-spe-%d8%aa%d8%b9%d8%aa%d8%b2%d9%85-%d8%aa%d8%ae%d8%b5%d9%8a%d8%b5-25-33-%d9%85%d9%86-%d8%aa%d8%a7%d8%a8%d8%b9%d9%87%d8%a7-%d8%a7%d9%84%d8%ab\/\" style=\"\" rel=\"noopener\">al<\/a>. The company plans to acquire stakes in 2-3 local companies, with an eye on export industries, financial services, and logistics. The fund should reach second close before the end of the year, he added. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> SPE PEF III was part of the consortium that <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/8dfe000b-b619-4de4-a6c8-0793a206df4d\/state-exits-egyptian-microfinance-player-tamweely-after-egp-2.8-bn-buyout-by-int%e2%80%99l-consortium\" style=\"\" rel=\"noopener\">fully acquired<\/a> leading local microfinance provider Tamweely earlier this month. <\/p>\n<p class=\"tag-border-left\">FINTECH-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Shopping at MAF malls ju<\/strong><strong>st got easier: <\/strong>Homegrown fintech player Valu will introduce mall gift cards for UAE-based retail giant Majid Al Futtaim\u2019s (MAF) malls across Egypt under a newly-announced partnership between the two sides, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/9\/1295.pdf\" style=\"\" rel=\"noopener\">press release<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/9\/1295.pdf\" style=\"\" rel=\"noopener\">(pdf)<\/a>. The gift card will allow shoppers to use Valu's payment plans for their purchases from over 400 brands across MAF shopping destinations. The move aims to \u201coffer customers enhanced flexibility, exclusive benefits and an elevated shopping experience at Majid Al Futtaim\u2019s shopping centers.\u201d<\/p>\n<p class=\"tag-border-left\">COMMODITIES-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Less space for rice cultivation: <\/strong>The Madbouly government will reduce the area allotted for rice cultivation by 32% from 1.1 mn acres to 750k acres for the upcoming season, starting next May, <a target=\"_blank\" href=\"https:\/\/www.asharqbusiness.com\/financial-markets\/53910\/%D9%85%D8%B5%D8%B1-%D8%AA%D9%82%D9%84%D8%B5-%D8%B2%D8%B1%D8%A7%D8%B9%D8%A9-%D8%A7%D9%84%D8%A3%D8%B1%D8%B2-%D8%A8%D9%86%D8%AD%D9%88-%D8%A7%D9%84%D8%AB%D9%84%D8%AB-%D9%81%D9%8A-%D8%A7%D9%84%D9%85%D9%88%D8%B3%D9%85-%D8%A7%D9%84%D8%AC%D8%AF%D9%8A%D8%AF\/\" style=\"\" rel=\"noopener\">Asharq Business<\/a> reports, citing an unnamed government official. The new limit aims to conserve water resources while ensuring that domestic needs will be met.<\/p>\n<p class=\"tag-border-left\">CAPITAL MARKETS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>An EGP 1 bn real estate fund in the making:<\/strong> A consortium including Redcon Properties, Al Baraka Bank, and other institutions has plans to set up a local real estate investment fund with initial investments of over EGP 1 bn, <a target=\"_blank\" href=\"https:\/\/almalnews.com\/premium\/%d8%aa%d8%ad%d8%a7%d9%84%d9%81-%d9%8a%d8%b6%d9%85-%d8%b1%d9%8a%d8%af%d9%83%d9%88%d9%86-%d8%a8%d8%b1%d9%88%d8%a8%d8%b1%d8%aa%d9%8a%d8%b2-%d9%88%d8%a7%d9%84%d8%a8%d8%b1%d9%83%d8%a9\/\" style=\"\" rel=\"noopener\">Al Mal<\/a> reports, citing Vice Chairman Ahmed Abdallah. The fund, which is expected to launch at the end of 2025, will acquire administrative and commercial buildings, with a focus on projects in east Cairo.<\/p>\n<p class=\"tag-border-left\">EXPANSION-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Cushman &amp; Wakefield expands into Egypt: <\/strong>NYSE-listed global real estate firm <a target=\"_blank\" href=\"https:\/\/www.cushmanwakefield.com\/en\" style=\"\" rel=\"noopener\">Cushman<\/a><a target=\"_blank\" href=\"https:\/\/www.cushmanwakefield.com\/en\" style=\"\" rel=\"noopener\">&amp; Wakefield<\/a> and its Emirati arm <a target=\"_blank\" href=\"https:\/\/www.cushwake.ae\/\" style=\"\" rel=\"noopener\">Cushman &amp; Wakefield Core<\/a> have expanded into Egypt as part of a wider regional expansion plan, the companies said in a <a target=\"_blank\" href=\"https:\/\/www.cushwake.ae\/news\/cushman-wakefield-core-expands-into-egypt\" style=\"\" rel=\"noopener\">press release<\/a>. The company will provide local clients with \u201cresearch &amp; consultancy, capital markets, sales &amp; leasing, asset management, property management and global occupier services.\u201d<\/p>\n<p class=\"tag-border-left\">LOGISTICS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Tenth of Ramadan dry port expected to move to final contract signing in November: <\/strong>The Transport Ministry\u2019s Public Authority for Land and Dry Ports is set to sign final agreements for a public-private partnership (PPP) with Medlog, the cargo subsidiary of Italy\u2019s Mediterranean Shipping Company (MSC), to design, construct, administer, and maintain the new dry ports and logistic center in Tenth of Ramadan in November, <a target=\"_blank\" href=\"https:\/\/www.alborsaanews.com\/2024\/09\/17\/1826532\" style=\"\" rel=\"noopener\">Al Borsa<\/a> reports, citing unnamed sources it says are in the know. The signing will follow the House of Representatives\u2019 expected greenlighting of the project next month.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> Medlog first inked the agreement with the government to develop the new dry port in <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c300f1c5-ae22-4ca2-a261-423df0bfc36a\" style=\"\" rel=\"noopener\">August 2023<\/a> The <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2924d3de-2c58-464c-a105-e18beba04051\/egypt-has-big-dry-port-plans-%25e2%2580%2594-where-do-they-currently-stand%3F\" style=\"\" rel=\"noopener\">250-feddan project<\/a> will be carried out under a 30-year PPP contract with around USD 100 mn in total investments, and is expected to serve the industrial area in Badr, Ain Sokhna, East Port Said, the New Capital, and the Tenth of Ramadan.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Egypt currently has 14 data centers<\/p>\n","protected":false},"author":1,"featured_media":643976,"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":[111,102,317,7412,72,183,7111,125,145,1896,404,7445,1831,3224,515],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-643975","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-also-on-our-radar","tag-also-on-our-radar","tag-capital-markets","tag-commodities","tag-data-centers","tag-enterpriseam","tag-fintech","tag-infrastructure","tag-investment-watch","tag-logistics","tag-majid-al-futtaim","tag-public-private-partnership","tag-redcon-properties","tag-spe-capital","tag-tatweer-misr","tag-valu","wpautop","entry"],"acf":{"mongo_id":"d58985e2-86bd-408d-95fd-0ea83d7421a5","order":"10","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/9\/1367.jpg","photo_position":"above","homepage_title":"","full_issue_title":"SCZone eyes USD 60 mn data center project partnership with private sector. PLUS: SPE Capital, Valu + Majid Al Futtaim, Tatweer Misr, Cushman & Wakefield","related_issue":[643958],"teaser":"Egypt currently has 14 data centers","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/9\/.3a3fb900-3302-4705-bb0c-9f61a669144d.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>SCZone eyes USD 60 mn data center project partnership with private sector. 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