{"id":674439,"date":"2025-10-29T00:00:00","date_gmt":"2025-10-29T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2025\/10\/29\/following-up-on-fujairahs-multi-bn-usd-logistics-zone\/"},"modified":"2025-10-29T00:00:00","modified_gmt":"2025-10-29T00:00:00","slug":"following-up-on-fujairahs-multi-bn-usd-logistics-zone","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2025\/10\/29\/following-up-on-fujairahs-multi-bn-usd-logistics-zone\/","title":{"rendered":"Following up on Fujairah\u2019s multi-bn USD logistics zone"},"content":{"rendered":"

Good morning, folks.<\/strong> It is looking like a calm day for business news in Egypt as we inch closer to the weekend. For the second morning running, we lead the news well with government debt as the Madbouly government gears up to issue the country\u2019s first retail bonds.<\/p>\n

BUT FIRST- The first of four weekly special issues about the GEM will land in your inbox <\/strong>later this morning<\/strong>, charting the museum\u2019s journey from the launch of a record-breaking international design competition to the final stages of completion and capturing the challenges, milestones, and unwavering ambition that brought it to life.<\/p>\n

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PSA- <\/p>\n

Owners of unauthorized buildings will get 25% off on reconciliation fees if they <\/strong>pay the amount in full<\/strong> after the cabinet greenlit the move during its latest meeting<\/a>. The decision applies only to unauthorized buildings outside official urban areas.<\/p>\n

WEATHER- <\/strong>It\u2019s another sunny day in Cairo, with a high of 29\u00b0C and a low of 19\u00b0C, according to our favorite weather app.<\/p>\n

It\u2019s a little cooler in Alexandria<\/strong>, with a high of 27\u00b0C and a low of 19\u00b0C.<\/p>\n

WATCH THIS SPACE- <\/p>\n

<\/a> Where\u2019s Fujairah\u2019s multi-bn USD logistics zone? <\/strong>UAE\u2019s Fujairah has started working on its USD 3 bn oil logistics zone<\/a> at Al Hamra Port on the Mediterranean coast, a government official told EnterpriseAM. The emirate will invest USD 500 mn during the first phase of the project, the source added. Sources previously said that the project will be completed within three years from the date of construction \u2014 work on the superstructure will kick off early next year.<\/p>\n

REMEMBER- <\/strong>Earlier this month, the two sides inked an agreement<\/a> to set up a joint-stock company to take over the project. The joint-stock company is being set up and will apply for a golden license, our source said.<\/p>\n

What this means for us: <\/strong>The project will boost exports to Europe via the Mediterranean as well as solidify Egypt\u2019s position as a regional energy trade hub.<\/p>\n

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<\/a> Egyp<\/strong>t maintained its third-place ranking as the top investment destination <\/strong>among African countries this fiscal year<\/strong>, according to an RMB report<\/a>. Seychelles topped the list, with Mauritius coming in second place.<\/p>\n

The country\u2019s untapped export potential amounted to USD 30 bn this year<\/strong>, representing 8% of the GDP in 2023, according to the report.<\/p>\n

ICYMI-<\/strong> Net FDI into Egypt fell to USD 12.2 bn<\/a> in the last fiscal year from USD 46.1 bn a year earlier, when inflows were inflated by the Ras El Hekma agreement. Non-oil FDI inflows came in at USD 11.6 bn in FY 2024-2025, while oil FDI recorded a net inflow of USD 598.3 mn.<\/p>\n

HAPPENING TODAY- <\/p>\n

<\/a> The Industry Ministry will start offering up 1.1k industrial land plots across 16 <\/strong>governorates today on the <\/strong>Made in Egypt<\/a><\/strong> platform<\/strong>, according to a statement<\/a> from the ministry. The plots \u2014 ranging from 190k-500k sqm \u2014 are designated for projects in the food, engineering, chemical, pharma, textile, and building materials sectors. Investors will have until 6 November to apply.<\/p>\n

Applicants can apply for two plots<\/strong> \u2014 their first choice and their second choice. Priority will be given to applicants from previous rounds whose technical and financial studies were approved but who did not secure land, provided they did not refund their booking deposit. The plots are available under ownership or leasing systems.<\/p>\n

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THE BIG STORY ABROAD- <\/p>\n

A mix of Big Tech news and headlines from the region are getting attention this morning<\/strong>: <\/p>\n

#1- The Israel-Hamas ceasefire seems to be in its most fragile state yet<\/strong>, after Israel launched military strikes on Gaza yesterday, killing 26 people. An Israeli military official said the strike was in response to an attack from Hamas against Israeli military forces in an area within Gaza that is under Israeli control. (Reuters<\/a> | Bloomberg<\/a> | Financial Times<\/a>)<\/p>\n

#2- OpenAI is likely on track for a public listing<\/strong>, after a restructuring agreement with Microsoft that will see it abandon its nonprofit roots and turn into a public benefit corporation controlled by a nonprofit, as it looks to fund ambitious plans for data centers and AI technology. Microsoft will retain its 27% stake in the firm under the agreement. Its shares rose 2.5% on the news, sending its valuation above USD 4 tn. (Reuters<\/a> | FT<\/a> | CNBC<\/a> | Wall Street Journal<\/a>) <\/p>\n

#3- Also joining the USD 4 tn club yesterday: Apple<\/strong>, which is benefitting from an ongoing rally prompted by positive sales momentum for its new iPhone 17. Only Nvidia and Microsoft have hit the USD 4 tn mark. (Reuters<\/a> | <\/p>\n

#4- As for the USD 5 tn club\u2026:<\/strong> Nvidia was close to touching the USD 5 tn mark after its shares soared 5% yesterday, briefly touching USD 4.94 tn before settling at USD 4.89 tn. This came after it said it had USD 500 bn in bookings for its AI processors. (Reuters<\/a>)<\/p>\n

Other headlines from the firm: <\/strong><\/p>\n