The Egyptian government has issued a statement clarifying the current status of lands along the Nile Corniche. According to the government, recent reports suggesting that the Urban Development Fund was selling lands and sites along the Corniche were inaccurate. The actual work being carried out involves identifying unused or underutilized lands and buildings.
The Urban Development Fund is currently conducting an inventory and evaluation of these lands to determine the best ways to utilize them and maximize their value. This process includes studying the surrounding areas, existing and proposed uses, and determining the optimal use for each site based on its legal, technical, and financial aspects.
The fund has formed a committee, chaired by the head of the Urban Development Fund, with members from relevant authorities. This committee reviews and studies applications from investors interested in developing the identified lands and sites. It also establishes criteria and controls for evaluating and comparing investment offers to ensure the best use of state assets and maximize economic returns.
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 existing and proposed uses to help determine the best projects and uses that can achieve the highest possible value for each asset.
The Egyptian government's efforts are focused on optimizing the use of state lands, not selling them off. According to the government, the ownership of these lands belongs to various state entities. The current process aims to identify the most beneficial uses for these lands while ensuring that they are utilized effectively.
The government has urged citizens not to spread unverified information and to rely on official sources for accurate news. This clarification comes as part of the government's efforts to maintain transparency and prevent the spread of misinformation.
Key stakeholders, including the Urban Development Fund and relevant government agencies, are working together to ensure that the process of identifying and utilizing unused lands is carried out in a transparent and efficient manner. The goal is to maximize the economic benefits of these lands while promoting sustainable development.
Key points
- The Egyptian government has denied reports of selling Nile Corniche lands, stating that efforts are focused on optimizing land use.
- An inventory and evaluation of unused or underutilized lands and buildings along the Nile Corniche are currently underway.
- A committee has been formed to review and study applications from investors interested in developing the identified lands and sites.
