Giant e-commerce platform Amazon has started initial negotiations to acquire 100 acres in Egypt’s western city of Sohag to establish warehouses to serve the North African region.
The retail giant’s planned warehouse in the New Sohag city would be “Amazon’s largest in the world”. The retailer has already contacted city officials “to determine the available plots of land to choose the best location.”
A source that spoke to Africa24.news confided that the construction was aimed at “meeting the increasing demand for e-commerce products in the regional market.”
Officials in the new city are seeking to conclude the deal to ensure that Amazon continues the allocation procedures and begins construction. The city administration recently submitted an offer to sell a metre of warehouse land at a value of 860 Egyptian pounds ($54.56).
The New Sohag city, one of the third generation cities of the state-run New Urban Communities Authority with a target of 790,000 inhabitants by 2050, sits on an area of 29,516 acres.
According to the world’s largest brand equity database BrandZ, 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.