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- New Damietta Furniture City is one of the national projects which is added to Egypt’s list of achievements on its way to move forward in a steady pace towards achieving comprehensive development.
- The new city is 20 minutes away from the heart of the city of Damietta, and near the entrance of Damietta Governorate in Shata area. It is located on an area of 331 feddans.
- This city was implemented by the Engineering Authority of the Armed Forces and the Department of Military Works.
- It includes 2000 new workshops and 500 large factories, as well as the furniture technology center in which marketing studies are conducted for furniture manufacturers and furniture are tested before exporting it to the countries of the world.
- The center includes an educational and academic institution for design and innovation and exhibition halls for promoting the city furniture products locally and internationally. There are also a complex of government and administrative services, an integrated services area, stores, warehouses, financial and banking institutions, hospitals and places of worship.
- New Damietta Furniture City is one of the national projects which is added to Egypt’s list of achievements on its way to move forward in a steady pace towards achieving comprehensive development.
- The new city is 20 minutes away from the heart of the city of Damietta, and near the entrance of Damietta Governorate in Shata area. It is located on an area of 331 feddans.
- This city was implemented by the Engineering Authority of the Armed Forces and the Department of Military Works.
- It includes 2000 new workshops and 500 large factories, as well as the furniture technology center in which marketing studies are conducted for furniture manufacturers and furniture are tested before exporting it to the countries of the world.
- The center includes an educational and academic institution for design and innovation and exhibition halls for promoting the city furniture products locally and internationally. There are also a complex of government and administrative services, an integrated services area, stores, warehouses, financial and banking institutions, hospitals and places of worship.
- The project aims at reducing the congestion of furniture workshops in Damietta residential areas and preserving the environment.
- The new furniture city provides 40 thousand direct jobs and 120 thousand indirect jobs.
- It aims at making a big leap in the furniture industry in Damietta city, for which has long been well-known. It aims to transform Damietta city into an integrated and specialized city in the furniture industry by deepening and upgrading this industry according to the latest international standards in this field, especially in terms of the designs and the development of production lines. Moreover, it helps increasing the export of the furniture products so as to be able to compete regionally and internationally.
- Upon the directives of President El-Sisi, the Engineering Authority of the armed forces, headed by Major General Kamel El-Wazir, was assigned to carry out the project.
- Damietta Furniture City Company was established to manage the project with a licensed capital of 5 billion Egyptian pounds, an issued capital of LE 521 million and LE 325 thousand with a 100% Egyptian contribution, aiming at establishing an integrated industrial city for furniture in Damietta. Osama Saleh was elected Chairman of the company and Moataz Bahaa El-Deen as its CEO and Managing Director.
-The shareholders of the new company were determined: Damietta Governorate by 40% of the in rem company shares (the value of the land’s project), the National Investment Bank by 40%, the Industrial and Mining Projects Authority by 5% and Ayady Egypt for Industrial Development; one of the sponsors of the project it is also one of the investors whose share in the company is 15%. "NI Capital", the investment arm of the National Investment Bank, is the financial adviser of the company.
-The executive steps of the project were reviewed, the financial, marketing and feasibility research were studied and the workshop designs for the small industries. The agreement concluded that the small workshop area is to be between 100-150 meters, taking into account the safety systems in the workshop design, in terms of the interior and exterior designs and the convenient atmosphere for work to increase productivity.
-Minister of Commerce and Industry, Eng. Tarek Qabeel, signed a protocol of cooperation between Damietta Furniture Company and Banque Misr with a value of LE 1.5 billion to provide the necessary financing facilities, in the presence of Minister of Planning, Dr. Ashraf El-Arabi, Damietta Governor, Dr. Ismail Abdel Hameed Taha, Chairman of the Company, Osama Saleh, Chairman of Banque Misr, Mohamed Eletreby, and Deputy Governor of the Central Bank, Gamal Negm.
All rights reserved to the presidency Copyright © 2020
All rights reserved to the presidency Copyright © 2020