Arab Today, arab today egypt vows to settle land disputes with foreign firms
Last Updated : GMT 18:36:16
Arab Today, arab today
Arab Today, arab today

Egypt vows to settle land disputes with foreign firms

Arab Today, arab today

Arab Today, arab today Egypt vows to settle land disputes with foreign firms

Cairo - Arabstoday

The Egyptian government is seeking to settle disputes over the price of land and other issues with about 20 foreign and local investors in a bid to avoid costly arbitration and rebuild confidence in Egypt, an official has said.One of the companies involved, Dubai property developer Damac, said in May it had filed an international arbitration case against Egypt over a land row and the conviction of its chairman and owner, Hussain Sajwani. That case is one of several disputes over the price state land was sold to developers under former President Hosni Mubarak. Many Egyptians accuse Mubarak\'s government of doing deals that benefitted the rich elite and top officials at the expense of the rest of the country\'s 80 million people.Several cases claiming land was sold to too cheaply by Mubarak\'s government were raised in the courts before the president of 30 years was ousted in February but disputes have gathered momentum. Investor confidence has been shaken. Al Ahram daily said the cabinet could reach a resolution over Damac and other cases in days, but the senior official on the committee set up to negotiate settlements told Reuters: \"I think it will take a little longer.\"The committee is headed by Prime Minister Essam Sharaf. \"We have around 17 to 20 cases now. So what we are trying to do now is instead of going to arbitration we are trying to reach a fair settlement between the two parties,\" said the official, who asked not to identified by name. The official did not list all the firms but confirmed names reported by Al Ahram, which included Damac, another Dubai-based conglomerate Al-Futtaim Group and Omar Effendi, an Egyptian retail chain owned by Saudi firm Anwal. The committee has settled one of the string of state land sales rows by revising the terms of a farmland deal with Saudi Prince Alwaleed bin Talal.Courts have scrapped land contracts for Egypt\'s two largest property developers, Talaat Moustafa Group and Palm Hills and two former government ministers have been sentenced to jail over graft in state land sales. The committee official said most disputes involved rows over the price of land sales or over the price gas would be supplied to industries. \"Some contracts signed before were harmful for the Egyptian government. The price of land was very low. We are trying to reach a fair settlement by which investment will be safe and the contract respected and at the same time give the government and country their rights,\" the official said, adding that arbitration was a costly process. \"We are trying our best to attract foreign as well as Egyptian investment.\" From / Arabian Business News

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today egypt vows to settle land disputes with foreign firms Arab Today, arab today egypt vows to settle land disputes with foreign firms

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today egypt vows to settle land disputes with foreign firms Arab Today, arab today egypt vows to settle land disputes with foreign firms

 



Arab Today, arab today
Arab Today, arab today Arab tradition glitters in Colombia

GMT 12:59 2017 Thursday ,19 October

Arab tradition glitters in Colombia
Arab Today, arab today Second US judge orders freeze

GMT 08:04 2017 Thursday ,19 October

Second US judge orders freeze
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Silent Republicans have their reasons

GMT 16:55 2017 Thursday ,19 October

Silent Republicans have their reasons
Arab Today, arab today Hiring not part of Alibaba pledge

GMT 11:26 2017 Wednesday ,18 October

Hiring not part of Alibaba pledge
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Sidem reveals plan to improve education

GMT 15:52 2017 Friday ,06 October

Sidem reveals plan to improve education
Arab Today, arab today Ex-French minister Dati wants tough action

GMT 10:54 2017 Thursday ,19 October

Ex-French minister Dati wants tough action
Arab Today, arab today Climate-disrupting volcanoes helped topple

GMT 16:00 2017 Wednesday ,18 October

Climate-disrupting volcanoes helped topple
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Mercedes says recalls 400,000 UK cars

GMT 06:56 2017 Tuesday ,17 October

Mercedes says recalls 400,000 UK cars
Arab Today, arab today Britain's Vauxhall to cut 400 jobs

GMT 10:53 2017 Sunday ,15 October

Britain's Vauxhall to cut 400 jobs
Arab Today, arab today Hussein Fahmy happy for honoring in festival

GMT 07:47 2017 Tuesday ,17 October

Hussein Fahmy happy for honoring in festival
Arab Today, arab today Three killed, 360,000 without power

GMT 05:11 2017 Tuesday ,17 October

Three killed, 360,000 without power

GMT 09:31 2017 Monday ,16 October

Dalal Abdel Aziz happy for “Seventh Neighbor”

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman

GMT 18:29 2017 Sunday ,03 September

Designer produced new set of ornaments

GMT 18:49 2017 Monday ,16 October

India to close colonial-era military farms

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 23:42 2017 Monday ,16 October

Better Marriages Make

GMT 06:52 2017 Monday ,16 October

Airbus CEO says won't cling to job

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 03:59 2017 Sunday ,15 October

US mobile carriers Sprint, T-Mobile to merge

GMT 19:29 2017 Tuesday ,29 August

Yomna: decoration leaved positive effects
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday