Amazon started initial negotiations to acquire 100 feddans in the city of New Sohag to establish warehouses to serve the Upper Egypt region to meet the growing demand for e-commerce products in the local market.
Informed sources said that the US e-commerce giant has already contacted officials from the city of New Sohag to determine the available plots of land to choose the best location, especially since the company wants a large space that enables it to establish a warehouse complex for its various products.
In the meantime, officials in the new city are seeking to conclude the deal to ensure that the Amazon continues with the allocation procedures and start construction, especially since the city recently submitted an offer to sell a meter in warehouse land at a value of EGP 860.
Amazon is one of the largest e-commerce services companies in the world, and among the Big Four technology companies, along with Google, Apple, and Facebook, registering $ 315.5 billion, according to the world’s largest brand equity database “BrandZ”.
The sources pointed out that the official price for selling the warehouse meter is EGP 1130, a value that will be reviewed at the beginning of this year, amid confirmed expectations to raise the value to approximately EGP 1400, to match the current boom in the city.
Moreover, Amazon wants to establish its first center to collect its products in the Upper Egypt region to meet the increasing demand for e-commerce services.
The New Sohag city, one of the third generation cities of the New Urban Communities Authority with a target of 790,000 inhabitants by 2050, on an area of 29,516 feddans.