RIYADH: Egypt has announced offering 1,386 fully serviced industrial plots across 23 governorates and 35 industrial zones, totaling 6.8 million sq. meters, in a bid to accelerate industrial development and attract local and foreign investment.
The offering, part of the government’s 11th industrial land tender, will be conducted via the country’s digital platform from Sept. 1-11, the Ministry of Industry and Transport said in an official Facebook post.
Plot sizes range from 240 sq. meters to 500,000 sq. meters and cover sectors including food, pharmaceuticals, and chemicals, as well as engineering, medical supplies, building materials, and textiles.
The initiative underscores the state’s commitment to local production and sustainable industrial growth, coinciding with rising confidence in the Egyptian pound, with Standard Chartered noting in August that at least half of $12.5 billion in investment pledges from Qatar and Kuwait is expected to be disbursed by the end of 2025.
“The tender is designed to provide flexible options for investors,” Kamel El-Wazir, deputy prime minister for industrial development and minister of industry and transport, said in the Facebook post. “We continue to create an attractive and transparent environment to support sustainable industrial growth across Egypt.”
He highlighted the diversity of plot sizes to suit projects of all scales — small, medium, and large — ranging from 240 sq. meters to 500,000 sq. meters.
The plots are offered at the actual cost of utilities to facilitate investor access and reduce financial burdens. Annual usufruct fees are set at 5 percent of the ownership price per sq. meter.
Investors may apply for two opportunities, one as a primary choice and another as an alternative, providing flexibility and broader access. Allocation priority will go to applicants who previously submitted valid proposals but were unsuccessful and did not reclaim their deposits.
El-Wazir noted that the offering is supported by unprecedented incentives from previous rounds, including a 50 percent discount on application study fees, removal of bid and financial guarantee charges, a reduced deposit of 10 percent of land value, and a simplified feasibility study form, all designed to encourage broader investor participation.
Following application submission, the Industrial Development Authority will evaluate all entries and announce results within two weeks of the tender’s closing date.
Egypt offers over 1,300 industrial plots to boost economic development
https://arab.news/29a8w
Egypt offers over 1,300 industrial plots to boost economic development
Closing Bell: Saudi main index slips to close at 10,588
RIYADH: Saudi Arabia’s Tadawul All Share Index slipped on Sunday, losing 127.15 points, or 1.19 percent, to close at 10,588.83.
The total trading turnover of the benchmark index was SR2.57 billion ($685 million), as 28 of the stocks advanced and 232 retreated.
Similarly, the Kingdom’s parallel market Nomu lost 108.53 points, or 0.46 percent, to close at 23,719.13. This comes as 22 of the stocks advanced while 47 retreated.
The MSCI Tadawul Index lost 17.17 points, or 1.22 percent, to close at 1,393.34.
The best-performing stock of the day was Sport Clubs Co., whose share price surged 3.69 percent to SR9.00.
Other top performers included Flynas Co., whose share price rose 2.55 percent to SR72.30, as well as National Industrialization Co., whose share price surged 2.13 percent to SR10.09.
Consolidated Grunenfelder Saady Holding Co. recorded the most significant drop, falling 6.61 percent to SR8.90.
Sustained Infrastructure Holding Co. also saw its stock prices fall 5.75 percent to SR30.82.
CHUBB Arabia Cooperative Insurance Co. also saw its stock prices decline 5.72 percent to SR22.40.
On the announcements front, Wataniya Insurance Co. said it has received a notice of award for a one-year contract with Saudi National Bank to provide general insurance as well as protection and savings insurance services, in line with agreed terms and conditions.
According to a Tadawul statement, coverage will begin on Jan. 1, 2026. The contract value exceeds 15 percent of the company’s total revenues, based on its latest audited financial statements for 2024.
Wataniya Insurance Co. ended the session at SR14.35, up 1.92 percent.
Fawaz Abdulaziz Alhokair Co., or Cenomi Retail, has announced executing a SR1.5 billion facility agreement structured as a short-term loan with Emirates NBD – Kingdom of Saudi Arabia. A bourse filing revealed that the financing duration is three years with an option to extend for a total of two years.
Cenomi Retail ended the session at SR20.00, up 0.26 percent.
First Milling Co. has announced the Board of Directors’ recommendation to amend the firm’s bylaws Article “Company Management” to increase the number of board members from seven to eight. This change reflects the firm’s commitment to broadening the range of expertise and skills on its board, in line with its growth and expansion plans for the next phase.
The company reiterated its commitment to fulfilling all necessary procedures and obtaining approvals from the relevant authorities. The recommendation will be submitted to the upcoming General Assembly, with the date to be announced in due course.
First Milling Co. ended the session at SR49.22, down 1.06 percent.
