Egypt loses strategic land to UAE over debts
The article indicates that Egypt is approaching an agreement with a new Emirati deal to sell and redevelop a strategic land parcel in the Juffair area along the northwestern coast, valued at approximately 135 billion Egyptian pounds (2.7 billion US dollars). The deal involves establishing tourism and hospitality facilities on 642 faddans of land through a joint venture, with Egypt's future revenue share estimated between 20% and 30%, in addition to an in-kind share of the units. This comes as part of a series of both historic and recent Gulf investments in the region, accompanied by warnings about the risks of the state relinquishing its lands and allowing them to be exploited to settle debts at the expense of sovereignty and national security—especially as foreign investments tend to concentrate on strategic areas while local investments are overlooked. Experts believe that such deals reflect an increasing foreign dominance over strategically important lands, raising concerns about national sovereignty and emphasizing the need for a clear strategy to regulate foreign investments—one that balances attracting funding with protecting national assets from monopolization or opaque disinvestment.
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