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المصري اليوم
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Minister of Industry delays land processing rule
Minister of Industry Khaled Heshm has temporarily canceled the requirement of a three-year waiting period after the allocation of industrial land before it can be transferred, which had been in effect since the start of 2024. This move aims to reduce the impacts of rising industrial land prices resulting from speculation, which had worsened after implementing the previous regulation, leading to land prices being sold at inflated rates. The new amendments allow the sale, transfer, or leasing of industrial land upon proof of investor seriousness, ensuring the flow of genuine investments and reducing speculative practices. There will also be ongoing monitoring to re-offer unused lands to committed investors. The goal of this measure is to strike a balance between stimulating the industrial market and curbing uncontrolled trading practices.
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