The Maadi Technology Park is negotiating with three international companies to rent spaces ranging between 4,000 and 7,000 square metres, aiming to create about 3,000 new job opportunities in outsourcing services, and export digital services from Egypt worth between 30 and 60 million dollars annually.
Amr Aboualam, Chairman of the Board of Maadi Technology Park , said that it is also currently in discussions with one of the international companies to establish a second data center in the Zone, within the framework of the ambitious plan adopted by the Zone’s administration under the umbrella of the Ministry of Communications and supports Egypt’s Vision 2030 and the government’s plan for sustainable development.
Aboualam explained that the current market value of the investments carried out in it exceeds 4 billion pounds, explaining that the region’s administration is currently moving to develop the services available at its site to attract more investment opportunities during the next stage.
What is the region’s plan during the second half of 2023 in terms of construction work or increasing the number of companies present there?
The region is cooperating with the Information Technology Industry Development Authority (ITIDA) in the initiatives recently put forward by the authority to increase the number of companies working in the field of exporting information technology services.
Negotiations are also underway with several parties to acquire lands under the usufruct system to construct new buildings and offer them for rent to companies wishing to benefit from the benefits of working within them.
In addition to companies working in the field of data centers, the region is also moving to develop the services available on the public site to attract more investment opportunities.
What is the current and targeted investment volume for the Maadi Technology Park?
The current market value of the investments made in the Maadi Technology Zone exceeds 4 billion pounds, and the target of pumping new foreign investments within two years is estimated at $250 million, in addition to others worth up to one billion pounds.
What is the current and targeted occupancy rate for the area?
The first phase of developing 30% of the total area of the area with buildings, services and facilities was completed during 2016, and occupancy rates have currently reached more than 80%, and the goal is to increase these rates during 2024 in cooperation with the Technology Industry Development Authority (ITIDA) .
The current council of the region has also begun marketing the second and third phases of the region’s development with investors since the beginning of its assumption of responsibility in March 2022.
How did the liberalization of the exchange rate affect rental prices within the region? Have new methods been applied to deal with chartered companies to reduce the financial burdens on them?
The Covid-19 pandemic and the subsequent instability of the exchange rate in recent years had a negative impact on companies in making decisions related to positive and expansions, due to the blurring of vision for many of their clients, which subsequently affected the occupancy rates for the spaces available in the outsourcing services market in Egypt. Generally
The matter was not much different in the Maadi Technology park , as occupancy rates decreased from 95% to 80%, which is considered a reasonable number compared to what happened in some other administrative clusters, especially non-specialized ones.
However, new customers continued to arrive in the park, but in small numbers. Accordingly, the park’s board of directors, in cooperation with the Ministry of Communications, as the main developer, took some decisions after studying global and local market prices that would empower investors by providing balanced price packages and benefits to attract more customers. Outsourcing service providers for the region.
What about the new contracts other than the recent partnership with the Emirati data centers brown and treasury group to establish the first high-capacity data center in Egypt in the region?
There are currently at least three new international companies interested in being present in the region as tenants, each of which is seeking to acquire areas ranging from 4,000 to 7,000 square meters of buildings, which will provide 3,000 new job opportunities in the field of outsourcing and achieve exports worth $30 to $60 million annually. .
We are also holding discussions to establish a second data center with an international company.
What are the current forms of cooperation between the Maadi Technology park and the Smart Villages Company?
Several meetings were held with Silicon waha Company to manage and develop the new technology parks in order to coordinate efforts to market and develop the various technology parks in the coming period in cooperation with ITIDA. Meetings will be held soon with the Smart Villages Company.
What is the current package of services that the region provides to its tenants?
The area operates around the clock for 7 days and provides tenants with services related to cleaning, maintenance and security, in addition to parking spaces designated for companies and their guests other than public parking spaces.
There is also a dedicated post office and all safety factors, including an ambulance point and a central fire station, within the borders of the area, and the space allocated for services in the area is being developed to add sports and social activities.
Is the idea of establishing a free zone within “Maadi Technology” still under study?
Companies operating within the Maadi Technology park have the right to benefit from the customs incentives stipulated in the law establishing technology parks. Amendments to the Free Zones Law are currently being studied to consider the benefits that may accrue to companies from them. Once the study is completed, it will be submitted to the Board of Directors to present recommendations. The Ministry of Communications must take the necessary decisions on this matter.
What role does the Maadi Technology park play in implementing the Ministry of Communications’ strategy for digital transformation and sustainable development in accordance with Egypt’s Vision 2030?
The Technology park in Maadi is one of the most important pillars of Egypt’s Digital Strategy for Cross-Border Services 2022-2026, which was issued by the Information Technology Industry Development Authority in February 2022. It is designed to achieve three main goals: increasing Egypt’s revenues from exporting digital services three-fold at a compound annual growth rate of up to To 19% during the period from 2022 to 2026.
It also aims to create sustainable job opportunities in the cross-border service industry and focus on high-value services, which are expected to add about 215,000 jobs over the next five years, in addition to promoting and marketing Egypt as an attractive destination for emerging digital services and technologies such as artificial intelligence (AI) and advanced data analysis. And embedded electronic chips and software.
Does the Maadi Technology Park intend to provide co-working spaces to support entrepreneurs and developers?
We are discussing this matter with several entities specialized in managing shared work spaces, and we expect this service in the region starting next year.
The district has prepared several rooms and halls for training and meetings and made them available to all companies operating in the information technology sectors to attract developers and entrepreneurs. A group of offices in small spaces has also been made available for rent to suit the needs of these companies.
