CAIRO: AD Ports Group and the General Authority for Suez Canal Economic Zone (SCZONE) have signed a 50-year renewable usufruct agreement to develop and operate a 20-square-kilometer industrial and logistics park near Port Said on Egypt’s Mediterranean coast.
The agreement, witnessed by Egyptian Prime Minister Mostafa Madbouly and high-ranking UAE and Egyptian officials, positions East Port Said Industrial Zone as a strategic hub for international trade along East-West routes near the entrance of the Suez Canal.
AD Ports Group will develop the zone in phases, with an initial focus on a 2.8-square-kilometer area. The company plans to invest $120 million in market studies and development over the next three years, with construction expected to begin by year’s end.
Captain Mohamed Juma Al Shamisi, AD Ports Group’s managing director and group CEO, called the project a milestone in UAE-Egypt economic relations, highlighting its potential to boost Egypt’s trade and industrial ecosystem.
SCZONE Chairman Waleid Gamal El-Dien said the development strengthens Egypt’s position as a global trade hub, offering investors a competitive environment with modern infrastructure and strategic connectivity.
AD Ports Group has expanded its presence in Egypt in recent years, securing concessions, acquiring port operations, and partnering with Hassan Allam Holding for infrastructure projects. The East Port Said initiative aligns with broader UAE-Egypt economic cooperation and global trends in supply chain localization.