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23 Aug 2023

GAFI approves the establishment of the city of Tarboul under the investment zones framework

The General Authority for Investment and Free Zones approves the establishment of the city of Tarboul under the investment zones framework As a preparation for the issuance of the decree licensing the establishment of the zone by Dr. Mustafa Madbouly, the Prime Minister, the permanent committee that is headed by Mr. Hossam Heiba, GAFI CEO, which study applications for the establishment of new investment zones has approved the request submitted by GV Investment Group to establish the city of Tarboul in accordance with the investment zones framework,. The project aims to establish an integrated regional development complex, on an area of 26,000 feddans in the desert hinterland of the city of Atfeah, north of Giza. It accommodates a mixture of various economic activities including the industrial activities, logistics, financial and business centers, commercial and administrative centers, residential compounds, community centers, health services, as well as training and technical services centers. The investment costs for establishing and developing the project amount to half a trillion Egyptian pounds, and it is expected to provide 750,000 direct job opportunities, in implementation of the development strategy of Egypt’s Vision 2030, with regard to the establishment of green and smart cities. The project is considered a positive addition to the investment zones framework, which currently includes 16 investment zones spread across the governorates of Egypt, 11 of which are already established, with a total area of 2,400 feddans, including 1,269 projects with an investment value of EGP 34 billion, and providing more than 90,000 job opportunities. In addition to five Investment areas under construction in the governorates of Cairo and Giza, with a total area of about 2000 feddans, including 311 projects, with an investment value of EGP 157 billion, and provide more than 167 thousand job opportunities.