Businessmen are discussing with the government sports investment in youth centers and stadiums

Abeer Essam, head of the Small and Medium Industries Committee in the Real Estate Investment Division of the General Federation of Chambers of Commerce, said that the division is meeting with an official at the Ministry of Youth and Sports this week to discuss sports investment in youth centers and open stadiums, with the aim of obtaining the right to exploit them as an investment, and to develop them in a way that achieves a return for the state and investors. At the same time, it is in line with the state's plans to provide integrated services in new and existing cities that provide quality of life within the framework of Egypt's 2030 vision.

 

Essam confirmed to Al-Youm Al-Sabea the importance of sports investment in Egypt in light of the huge opportunities in the sector, as sports investment represents $ 750 million globally, of which Egypt’s share is only 2%, and it is a share that represents 25% of Arab investment in this sector. , Pointing to the need to expand sports investment to prepare a generation of sporting heroes to compete in local and international forums.

 

In another context, Abeer Essam said that the division will continue its meeting with officials of the new cities agencies to discuss investment opportunities, and will start from Upper Egypt, focusing on the new cities of Mallawi and Taiba, indicating the size of investment opportunities in these cities that can contribute to stimulating real estate investment.

 

Eng. Ashraf Fathy Mahmoud, head of the New Malawi and Al Fashn Cities Development Authority, had announced the implementation rate of 1,024 housing units (32 buildings) “ground + 7 recurring floors” in the JANNA project in New Mallawi, and it reached about 60%, pointing out that the concrete structure has been completed. Most of the project buildings, and the start of internal and external finishing works, and the volume of investments amounted to about 200 million pounds in the field of housing and roads in the city, within the framework of achieving targeted development for our people in Upper Egypt and creating new job opportunities.

 

He pointed out that, so far, 127 distinct plots of land in the first phase of the city have been reserved, with its first offering of plots of land, and road construction works are underway in the area where the plots are located, and the implementation rate has reached 70%.

 

He added that two plots of land have been allocated to the activity of a fuel station, and the implementation of services for the urgent phase (school - nursery - commercial market - and health unit) is now being proposed, and procedures for offering and awarding electricity works in the city are underway, and the Telecom Egypt Company has also been assigned to carry out planning work. And the implementation of communication networks through the city authority, to ensure the availability of all services.