Real Estate company CTP to invest US$600m within 5yrs to build business parks

EGYPT – The CTP company, a full-service real estate company specializing in building business parks, has announced plans to direct investments of US$600 million in Egypt within a period of five years.

Egypt’s Prime Minister Mostafa Madbouly held a meeting with Raymond Foss, CEO and Founder of CTP, to discuss the company’s business plans in Egypt.

Foss said that his company intends to direct new long-term investments in Egypt estimated at US$300-600 million within five years. This will take place by the country establishing two business complexes in Cairo on an area of ​​2m sqm each, which will provide 14,000 direct job opportunities.

He added that the idea of ​​business parks is based on establishing high-quality buildings, which are an essential feature of CTP’s business complexes. The company makes use of its 22 years of experience in Europe, building on its experience in the field of industry and logistical development.

Foss noted that the company is pumping a long-term investment through owning land to establish industrial buildings on it. This contributes to bringing more foreign investments and providing many job opportunities to the country.

He further elaborated that the company owns more than 6.3m sqm of land at more than 100 sites, and more than 700 clients of major international companies work with it representing various industries.

The project, which the company is requesting to set up in Egypt, includes the main logistical city centre, as well as research and test centres, and areas for entrepreneurship. It will also include an area for small businesses and light industries, and huge warehouses for logistics and delivery.

The Prime Minister directed for the General Authority for Investment and Free Zones (GAFI) to complete discussions with the company, to study the most appropriate business model for implementing the project. These include the proposal for partnership with the government, and to present what is agreed upon with the company.

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