CAIRO: Czech industrial real estate developer CTP Invest plans to invest $600 million in Egypt within the next five years.
During a meeting with Prime Minister Mostafa Madbouly, the company’s founder and CEO Remon Vos said the investment would consist in the establishment of two business complexes in Cairo.
The parks would be situated on plots of 2 million square meters each and would help create up to 14,000 direct new jobs.
Vos said the company has more than 22 years of experience developing industrial business parks and currently owns projects in more than 100 locations, with a combined area of more than 6.3 million square meters, servicing around 700 clients across various sectors.
The project the company plans to set up in Egypt will include a main logistical center; research and test centers; areas for entrepreneurship, small businesses and light industries; and a space dedicated to warehouses.
The prime minister praised the company and directed the General Authority for Investment to conclude discussions and agree on a model going forward.
Founded in 1998, CTP is headquartered in the Czech city of Prague.