The Administrative Capital for Urban Development (ACUD), Dubai Port (DP) World, and the General Authority for Investment and Free Zones (GAFI) have signed a Memorandum of Understanding (MoU) to explore the development of a public free zone within the lands allocated to the New Administrative Capital Company.

Chairman of the ACUD, Khaled Abbas, stated that under the MoU, the parties agreed to study the establishment of a free zone spanning approximately 500 acres within the allocated land.

The company holds a prime location for industrial infrastructure development, totaling 1,958 acres along the Cairo – Ain Sokhna road.

He explained that technical and economic studies for the project would begin shortly as part of preparing for the final contract signing and the official commencement of the free zone’s construction.

Abbas highlighted that the MoU aligns with the ACUD’s vision to create diverse land use zones, attract various investments, and establish a state-of-the-art industrial city as part of fourth-generation urban developments.

The project, designated as a public free zone, will be developed by DP World in coordination with the GAFI. The targeted industrial sectors include electronics, automotive, fast-moving consumer goods, apparel, and footwear.

Abbas noted that DP World will leverage its extensive global client network to attract investment and trade to this free zone project.