New System for Land Allocation in Egypt

Minister of Investment Osama Saleh said the government will shortly reach a settlement with a number of investors who have problems in obtaining lands within the framework of the recent amendments introduced to the law, allowing settlement of investment disputes with businessmen. Saleh asserted that this measure comes within the framework of the government's efforts to encourage and push forward investment. He noted in statements, on the sidelines of the annual conference of the Faculty of Economics and Political Science that a settlement contract with Damac Properties, owned by Hussein Segwany will be reached within a few days.