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Tuesday, 27 October 2020

Egypt to review land allocation mechanism after finding violations

Industrial investors will temporarily be barred from bidding for new land awards as the government reviews its land allocation mechanism, Trade Minister Nevine Gamea said yesterday, according to Al Shorouk. The review comes as the mechanism currently in place has run into practical “complications,” including some taking advantage of the system by acquiring land and setting it aside for its value to appreciate without committing to projects.

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