Turkish Bony Socks invests $100M in Egypt to establish manufacturing facility

Turkish apparel manufacturer Bony Socks has signed a strategic investment agreement in Egypt, planning to establish a new production facility in the capital region for $100 million.

Under the partnership, Bony Socks has acquired a 120,000-square-meter plot in the “Industria El Asher” industrial zone, located in 10th of Ramadan City—an urban area known for its proximity to Cairo and its growing manufacturing base. The plant is scheduled to be completed by the end of 2026, when production is expected to begin.

Facility to create 2,500 jobs, make Egypt a key export hub

The investment, carried out in cooperation with the Egyptian Commercial Office in Istanbul and local industrial developer Elsewedy Industrial Development, aims to transform Egypt into a key production and export hub by leveraging its geographic access to both African and European markets, according to Hasan Gulkaya, chairman of the board at Bony Socks.

The facility is expected to create employment for around 2,500 people, both directly and indirectly, Gulkaya added. He emphasized that Egypt’s logistical position and trade potential made the location an attractive long-term opportunity for expanding Bony’s international footprint.

Separately, the General Authority for Investment and Free Zones (GAFI) CEO Hossam Heiba noted that the Egyptian government is prioritizing sectors with high employment potential, such as textiles. Heiba highlighted ongoing efforts to expand industrial zones in cities, including 10th of Ramadan, Sadat, Suez, and Minya, tailored to meet the infrastructure needs of investors.