Egypt PM to form committee to protect TMG investors

Reuters
1 Min Read

CAIRO: Egypt’s Prime Minister is forming a committee to preserve the rights of citizens and investors in Talaat Moustafa’s (TMGMadinaty project, the state news agency said on Wednesday.

Egypt’s High Administrative Court on Tuesday upheld a ruling that a housing ministry body broke the law by selling the land without putting it up for public auction.

"Prime Minister Ahmed Nazif has decided to form a committee to review the progress of the Madinaty project … to ensure the work on the project does not stop and to preserve the rights of citizens and investors," the cabinet spokesman was reported as saying. 

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