Smart Village is not just office space; it is a technology park. You will find research centres, education institutes, incubators for small companies and we also have a financial district including the Cairo Stock Exchange as well as many Financial Institutions and banks.
“Certainly this young, growing market is very attractive. There are already four operators that are working in this market. The invisible handle on the market decides the right number of competitors whether it be three, four, five or more etc. I am not going to try to say what the right number is. The market is young, growing and it is moving in an all-data format.”
Egyptian Drilling Company is a joint stock company formed in 1976 as a corporation between the Egyptian General Petroleum Corporation and the A.P.Moller Maersk with a 50-50 partnership. We started operations with one onshore drilling rig and we have expanded since then and today, we have 70 rigs.
TAQA Arabia, a one stop shop for energy supply and energy solutions in Egypt, claims that renewable energy is increasingly becoming a necessity for Egypt.
“The general atmosphere now is that of hope and optimism. The current government has sent out many messages of reassurance to investors. A series of significant reforms and national projects have been launched.”
“We are real estate developers and in my opinion, the real estate sector has been one of the most resilient industries, fortunately. SODIC, as a company, has also been more resilient than others. I believe it is a factor of a very deep-willed demand in the market place that is not built on speculation or credit,” notes Ahmed Demerdash Badrawi, Managing Director of SODIC.
“In terms of industry, Egypt is the third largest market in Africa, the second is Algeria and the first market is South Africa. Moreover, with a population of 90 million, a quarter million vehicles is a very low volume. Therefore, we see a great potential for growth in Egypt,” comments Tarek Atta, Managing Director of GM Egypt & North Africa.
“In Cairo and other cities we used to have protests every day and a lot of violence, but this has all subsided dramatically following the presidential elections. Of course we still have some security situations, like any other country in the world, but the overall situation is improving now,” notes Khaled Abd Elghany, Senior Security Consultant of Middle East Security.
“Intel, Egypt is committed to the Egyptian market thought our “Egypt tomorrow” initiative. We are here to stay. We are confident about the potential of the Egyptian market. Our strategy is aligned around the three main areas of education, innovation and entrepreneurship,” notes Karim El Fateh, Country Manager (Egypt & Levant) of Intel Corporation.
Engineering Square (IDG) started in 2007 as an idea of the former Minister of Trade and Industry Engineer Rashid and some business people. “They invented the so-called industrial developer to create more industrial land in Egypt without putting financial burden on the government. We have sold out about 85%, of which 50% are already functioning. We have about 35 factories operating. Another 25 are under construction,” explains Sameh Attia, Managing Director of Engineering Square (Industrial Development Group).
