GV Investments, a prominent player in the real estate, industrial, and service sectors, has recently been granted approval by the Egyptian General Authority of Investment and Free Zones (GAFI) to embark on a groundbreaking project.
The company is set to create an industrial city, dubbed “Tarboul,” at a whopping cost of EGP 250 billion ($16.17 billion) near Atfih in the Western Desert.
The city will serve as a development center for economic, industrial, and logistics activities, providing a permanent source of employment for as many as 750,000 people. To achieve this feat, the project will include state-of-the-art administrative, financial, and business centers, as well as shopping malls, residential areas, community services, health, and training facilities.
The Egyptian government is also taking significant measures to improve its business and investment climate, with a view to increasing the private sector’s share in the economy from 30 percent to 65 percent based on the State Ownership Policy Document. In line with this goal, the cabinet statement has revealed that 11 investment zones in Egypt will be built on 2,400 feddans, spanning 1,269 projects implemented at EGP 34 billion. This development is expected to create over 90,000 jobs.
In addition, five investment zones are currently under construction in Cairo and Giza, covering 2,000 feddans and representing a total investment of EGP EGP 157 billion. This initiative is projected to generate over 167,000 job opportunities.
GV Investments Group, established in 2019 and based in Egypt, is a company that is dedicated to driving growth and development in various sectors. With this latest project, the company is poised to make a remarkable impact on the Egyptian economy and create a better future for the country’s citizens.
