The Industrial Development Authority (IDA) has extended the initiative offering 790 new industrial land plots, as more investors are showing interest, IDA announced yesterday.

Interested investors now have until 14 September to take out the tender conditions booklet for the plots instead of 6 September, and until 27 September to apply for the plots electronically via the IDA website.

The investment opportunity for the industrial lands announced by IDA extends over 14 governorates, the allocated lands have a total area of ​​1.7 million square meters.

Mohamed Abdel-Karim, IDA’s chairman, previously announced that the lands are earmarked for 152 investment opportunities in industrial sectors and is part of Egypt’s plan to narrow the $30 billion trade gap.

The Egyptian government is also aiming to collect $5 billion by offering shares of some state-owned companies to strategic investors from October 2023 until the end of June 2024. This was published in a recent report on the Government’s IPO (Initial Public Offering) Program by the Cabinet's Information and Decision Support Center (IDSC).