Construction

Polaris Parks celebrates ribbon-cutting ceremony of Bosla 1 in October Industrial Zone

By Mohamed Kamal

Polaris Parks, the leading industrial developer, celebrated a ribbon-cutting ceremony of Bosla 1 project, one of Polaris Parks’ major projects, in attendance of Eng. Magdy Ghazi, Chairman of Industrial Development Authority (IDA), as well as top management officials of Polaris Parks and a number of government officials. Moreover, the ceremony witnessed honouring the investors that have projects within Bosla, as Polaris Parks announced selling and delivering 80% of the first project units.

With total investments of EGP 350 million, Bosla 1 Project in October extends over 55,000 m² including 56 units starting from 500 m². After the success of Bosla 1 project, Polaris Parks set the corner stone for the second Bosla project on an area of 40,000 m², with 62 units with unit sizes starting from 390 m². It is expected to be delivered in 2021 to be the second of many upcoming Bosla projects across the country.

Eng. Magdy Ghazi, Chairman of Industrial Development Authority (IDA), praised the outstanding establishment of Bosla project and its punctual delivery. He highlighted that the project offers ready-units for investors to immediately commence their industrial or servicing activities, which is a compatible integration of the state’s plan – represented by the Authority, and the industrial developer in order to provide integrated solutions with high quality for investors.

Ghazi deliberated on the importance of the industrial developer’s role in developing fully-integrated industrial zones that meet the international quality standards, praising Polaris Parks’ efforts and contributions to the development of the local industrial sector.

“We are delighted to collaborate with leading governmental entities and private sector organizations, such as the Industrial Development Authority (IDA), National Bank of Egypt (NBE) for payment facilities, and Al Zamil Steel, with whom we share a strategic vision to attract SME investors, with regards to their pivotal contribution to developing the industrial scene and boost the Egyptian Economy,” commented Osman Evren Arikan, General Manager of Polaris Parks.

“Through Bosla project, we offer SMEs Plug & Play units compatible with their scope of work and different usage as industrial units or warehouses. Our priority is fulfilling every need for SME investors, guaranteeing them the best environment for their project success and customer satisfaction,” added Arikan.

Bassel Shoirah, Deputy General Manager of Polaris Parks emphasized that Bosla provides excellent incentives to attract local investors, through flexible payment terms and competitive plans and deals offered by NBE. That is in addition to various advantages that distinguish it from other competitors, whether in professional management, or through partnerships with major brands, eco-friendly units, and modern designs, bringing the total of these local investments in both projects to EGP 2.4 billion.

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