Egypt Daily News – The Egyptian government has officially denied claims made by Emirati businessman Khalaf Al Habtoor regarding alleged interference by Egypt’s Prime Minister in the pricing of a land parcel in the North Coast region.
In a televised interview earlier this week, Al Habtoor alleged that the Prime Minister intervened to increase the price of a piece of land he was interested in purchasing from $10 million to $30 million. However, a statement released Thursday by Mohamed El-Homsany, spokesperson for the Egyptian Cabinet, firmly refuted the businessman’s claims.
“We have verified with all relevant governmental authorities overseeing land in the North Coast, and none have received any request from Mr. Khalaf Al Habtoor to acquire land,” El-Homsany said. “This incident has no basis in fact and appears to be entirely fabricated.”
The spokesperson also questioned the logic behind the alleged interference, pointing out that even if Al Habtoor had been negotiating with private citizens, it would not warrant involvement from the head of government in determining property prices.
He emphasized that the procedures for acquiring land for investment, whether in the North Coast or elsewhere in Egypt are transparent, well-defined, and handled exclusively by the authorized entities, without interference from government officials.
“Egypt welcomes our Emirati brothers, investors and visitors alike,” El-Homsany added. “There are many Emirati investors who have poured billions of dollars into the Egyptian market and achieved record-breaking success, as they themselves have acknowledged in numerous media appearances.”
The statement underscores the government’s commitment to maintaining a transparent and rules-based investment environment, particularly amid efforts to attract foreign direct investment and bolster economic growth.
