Court will hear Bin Talal and Palm Hills cases today

Amr El Feki, Monday 3 Jan 2011

Land sales to the Kingdom Agricultural Development and Palm Hills Development will be considered in court today

Palm Hills 1
Photo: Fouad Mansour

The administrative court will consider on Tuesday the cases of Palm Hills Development (PHD) and the Kingdom for Kingdom Agricultural Development land acquisition, which allegedly violate the law regulating tenders and auctions.              

The government has allocated 996 thousand square meters for Palm Hills Development and 100 thousand feddans in Toshka, South of Egypt, for the Saudi prince El Waleed Bin Talal.

Palm Hills' land on trial represents only 2 per cent of Palm Hills' total land bank, and almost 77 per cent of the units to be considered during the trial have already been sold.

On the other hand, the government provided the Kingdom for Kingdom Agricultural Development 100 thousand feddans valued at LE 5 million ($0.86 million) and Bin Talal has only paid back LE 2 million ($0.34 million) in late 1990s.

The contract shows that Bin Talal received a lot of advantages and facilities that are not matched by the government's huge spending on the project infrastructure, which has reached more than LE 6 billion ($10.3 billion).

The cases were filed after the Administrative Court issued a verdict in September 2010 declaring that the Talat Mustafa Group’s (TMG) contract with the Ministry of Housing for ownership of Madinaty Compound's land through direct land allocation was illegal.

 

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