Helmy, Hamza & Partners, Baker McKenzie Cairo has advised Suez Industrial Development Company (SIDC), a majority-owned subsidiary of Orascom Construction PLC (NASDAQ Dubai: OC; EGX: ORAS), on a project that aims to develop a 2.2 million square meter industrial park in West Cairo, along with an acquisition of 25% stake of the project company. The development project will jointly be implemented with Al Ahly Capital Holding (ACH).
This project will consist of the construction, development and operation of an industrial park, to be strategically located at the crossroads of major transportation links connecting Greater Cairo to Alexandria and other cities. The strategic location of the industrial park, once developed, will enable it to become a leading hub for a wide range of sectors including logistics, data centres, light industries, and small, medium and large enterprises. The industrial park follows SIDC’s growth trajectory and fits within Orascom Construction's strategy to pursue investments that provide long-term recurring income with sustained development opportunities.
Commenting on the deal, Mohamed Barakat, Partner at Helmy, Hamza & Partners, Baker McKenzie Cairo said, "we had the pleasure to be involved on this Project, working alongside brilliant teams from SIDC, Orascom Construction, ACH and dedicated advisors. We are confident that this project, once finalized, will create a flagship industrial park that will attract sophisticated technologies, from within Egypt and globally, and will continue to solidify Egypt's industrial and commercial progress and leadership within the Middle East and the African continent."
Helmy, Hamza & Partners, Baker McKenzie Cairo team advising on this transaction was led by Partner Mohamed Barakat and Senior Associate Sam Dahroug with support from Associate Moataz El Sherbini, and Associate Mohamed Gamaleldin.
This is the latest example of the Firm’s work advising on high profile and complex transactions in the Middle East and reconfirms the Firm’s position as a transactional powerhouse.