The Egyptian government has issued a statement to clarify the status of lands and sites along the Nile River corridor, following rumors of their sale. According to the government, the current efforts are focused on evaluating and optimizing the use of these lands, not selling them. The media center of the Council of Ministers said that it had contacted the Urban Development Fund, which revealed that the ongoing work involves identifying unused or underutilized lands and buildings.
The Urban Development Fund emphasized that it is conducting a thorough inventory and evaluation of each site, taking into account the surrounding area, existing and proposed uses, and the site's legal, technical, and financial status. This process aims to determine the optimal use for each asset, maximizing its economic value. The fund also noted that the ownership of these lands belongs to various state entities.
A committee has been formed, led by the head of the Urban Development Fund, to review and study investment requests from interested investors. The committee will establish criteria and controls for evaluating and comparing investment offers, ensuring the best use of state assets and maximizing their economic returns. This committee includes representatives from relevant authorities.
The Urban Development Fund has engaged specialized consulting firms to conduct inventory and technical, urban, and economic studies. These studies include analyzing the areas surrounding each plot and assessing existing and proposed uses, helping to identify the best projects and uses that can generate the highest value for each asset.
According to the Council of Ministers' media center, the ongoing process does not involve selling Nile-corridor lands but rather aims to comprehensively evaluate and optimize their use. The government asserts that all actions are being taken in accordance with established rules, procedures, and controls.
The government's clarification comes amid public concerns and misinformation regarding the alleged sale of prime Nile-corridor lands. By providing accurate information, the government seeks to reassure the public and investors about its intentions and the future of these strategic assets.
The efforts to optimize the use of Nile-corridor lands align with Egypt's broader strategy to enhance economic development and maximize the value of state assets. The government's approach involves careful planning, evaluation, and stakeholder engagement to ensure that these lands contribute effectively to the country's growth and development.
Key points
- The Egyptian government denies plans to sell lands along the Nile River corridor.
- Ongoing efforts focus on evaluating and optimizing land use.
- A committee has been formed to review investment requests and maximize economic returns.
