Industrial Development Group secures 618 million EGP for new complex

Abu Dhabi Commercial Bank (ADCB) Egypt has signed a financing agreement with the Industrial Development Group (IDG) to provide a credit facility of 618 million Egyptian pounds. The funding is designated for the development of a new industrial complex in the New October City area.

Spanning 1.6 million square meters, the project aims to host more than 100 factories and industrial facilities. The development is expected to create over 10,000 job opportunities. The complex is strategically located with access to the Wahat Road and the Ring Road.

Shady William, CEO of IDG, stated that the financing will accelerate the group’s expansion plans and support the development of integrated industrial communities providing necessary infrastructure and logistics. IDG currently manages four integrated industrial complexes in Egypt, covering a total area of approximately 23.4 million square meters.