Skip to content Skip to Search
Skip navigation

Agility and Hassan Allam link up to build logistics parks in Egypt

An Agility warehouse. The Kuwaiti company and its partner Hassan Allam have announced an initial investment of $100m in their Egypt venture Agility
An Agility warehouse. The Kuwaiti company and its partner Hassan Allam have announced an initial investment of $100m in their Egypt venture
  • Joint venture Yanmu is to open its first 270,000-sq-m site in August
  • Kuwait’s Agility says parks will plug a gap in Egypt’s warehouse capacity
  • Cairo government wants logistics to play a key role in recovery

Kuwaiti logistics specialist Agility has formed a joint venture with the development arm of Hassan Allam Holding to build and run warehouses in Egypt. 

The venture, Yanmu, is due to open its first logistics park in August with an initial investment of about $100 million, Agility said in a stock market filing.

The development, a 270,000sq m site about 10 miles from Cairo airport, will be part-financed by equity and debt. A second park is planned for next year.

Dubai-listed Agility and Hassan Allam Utilities said the Yanmu parks would be designed to meet the storage and distribution needs of companies in sectors including e-commerce, food and beverage, technology, automotive, energy, industrial goods and pharmaceuticals. 

They will prioritise sustainable design, incorporating solar rooftops and other features that reduce power and water use and increase operational efficiency, the market statement said. 

“Yanmu will offer Egypt’s most modern, efficient and sustainable warehousing,” said Amr Allam, chairman of Hassan Allam Utilities. 

Agility vice chairman Tarek Sultan said: “When it comes to warehousing capacity and distribution capability, Egypt is underserved. Yanmu will fill the gap.” 

Both companies have recently unveiled expansion plans in Egypt.

In October, Agility announced that it is investing around $60 million to develop and operate two customs and logistics centres in the Suez Canal Economic Zone. 

In September, Hassan Allam Utilities signed two concession agreements to develop and operate strategic warehouses for the Internal Trade Development Authority in the governorates of Luxor and Sharqiyah. 

According to Egypt’s General Authority of Investment and Free Zones, logistics will play a “significant role” in the country’s economic recovery. 

“The outlook for Egypt’s logistics profile is positive over the long term as the efforts of the Egyptian government to reform the economy have so far helped attract the much-needed investments to carry out these upgrades,” the authority said.

Research firm Oxford Business Group has described expansion of the logistics sector as a national priority for Egypt, saying the government is engaging with the private sector and foreign investors on large-scale transport infrastructure projects.

In January, Hassan Allam Holding signed a deal with UK Export Finance to increase co-operation on projects across the Middle East and North Africa.

The agreement, signed at the British embassy in Cairo, aims to secure inward investment into the UK, promote financing for projects and encourage trade between the UK and Africa.  

Latest articles

FILE PHOTO: United Arab Emirates Minister of State for Foreign Trade Thani Al Zeyoudi gestures during an interview with Reuters in Dubai, United Arab Emirates, June 30, 2022. REUTERS/Abdel Hadi Ramahi/File Photo

UAE and Kenya complete Cepa negotiations

The UAE and Kenya have completed negotiations on a comprehensive economic partnership agreement (Cepa) between the two countries. It is the 12th Cepa deal secured by the UAE and its third in Africa, after agreements were signed last year with Mauritius and the Republic of the Congo (Congo-Brazzaville). “The UAE-Kenya Cepa will not only boost […]

Adnoc has bid for German polymer manufacturer Covestro but its offers €55 and €57 per share were rejected

Adnoc faces hurdles in completing ambitious European deals

Abu Dhabi state oil company Adnoc is facing challenges to a duo of major European deals it is trying to get over the finish line, according to media reports. Talks with Austrian energy group OMV have been put on hold to allow parties to navigate a series of disagreements, the Financial Times reported on Friday. […]

The 450 companies operating at Dubai Science Park include AstraZeneca, and the free zone plans to add 200,000 sq ft of lab and office space

Dubai Science Park reveals expansion plans

Dubai’s biotechnology free zone is adding 60 percent more offices, laboratories and warehouses over the next few years to cater for an influx of new companies, its senior vice-president told AGBI.  Dubai Science Park, part of Dubai-listed Tecom Group, is planning an expansion of 200,000 sq ft of additional storage and logistics facilities at the […]

Visitors enjoy the Karnak Temples; the government hopes to entice 30 million tourists to Egypt a year by 2030 tourism egypt

Egypt tourism up 5% in early 2024 despite Gaza conflict

The number of tourists visiting Egypt increased by five percent year on year in the first 40 days of 2024, according to Egypt’s tourism minister, Ahmed Issa. The announcement came after reports in January that visitor numbers for the whole of 2023 reached a record high of 14.9 million, just shy of the 15 million […]