Farewell, Maspero.. How did Sisi’s plan succeed in selling the Egyptian heritage to the Emirates?

Media experts warned the coup government against selling or disposing of the Maspero building, against the background of leaked reports regarding an agreement between the coup government and the UAE government to acquire the Maspero building.

Dr. Safwat Al-Alam, professor of media at Cairo University, said in previous statements that “the property of this country and its history does not belong to anyone, and whoever rules today does not rule tomorrow, and this building belongs to an entire people and he is the only decision-maker, stressing that selling the building is a trade in history.”

And the scientist added, there is no value for any money in front of the real value of the building, warning against taking any fateful decisions related to the people, their heritage or their history.

For his part, Dr. Adly Reda, a professor of media at Cairo University, said in a previous interview, “It is unjustified to sell a building for another building at a time when we are in dire need to develop media performance, instead of leaving for another building that costs huge amounts of money.”

While Osama Heikal, the Minister of Information, said that “the justifications for selling a building, to build another alternative that accommodates the crowded labor in Maspero, is empty talk, and it has no justification. Hard-to-reach desert?

The most expensive in the Middle East

Journalist Qutb Al-Arabi said that “Al-Sisi, like Al-Warraq Island, is approaching the implementation of the forced eviction of the residents of the Maspero Triangle, in preparation for handing it over to the Emirati company, Emaar.”

The Maspero Triangle (with an area of ​​47 acres) is one of the most important strategic areas located in the heart of Cairo, overlooking the Nile Corniche, adjoining the Ministry of Foreign Affairs building, and adjacent to the Italian Consulate and the most famous hotels in the capital. It has more than 5,000 families who cling to the dream of development promised by successive governments. Especially after the January revolution, after the creation of the Ministry of State for the Development of Slums.

Informed sources said that “Emirati businessman Mohammed Al-Abbar, Chairman of the Board of Directors of Emaar, signed an agreement with the Egyptian coup government, to increase his investments in Egypt during the coming period, and to establish a number of residential towers in the Maspero Triangle.”

According to Al-Masry Al-Youm newspaper, the total area of ​​land owned by Emaar Misr is approximately 15.4 million square meters, occupying strategic locations.

8 billion pounds

The appraiser, Youssef Khalil, estimated the value of the land only, according to the available official data and figures, in the event that it is vacant land and with the optimal exploitation of the spaces, at about 8 billion pounds, detailed as follows:

— The total value of the space available for exploitation from the facade overlooking the Nile is about two billion pounds, based on an estimate of the value of a square meter of land in this area between sixty and seventy thousand pounds in the case of licensing high-rises “30 floors or more.

— The total value of the lands overlooking Al-Jalaa Street is about two billion pounds, based on an estimate of the price per square meter of land in this area of ​​thirty thousand pounds.

— The total value of the lands located within the same triangle is about 4 billion pounds, based on an estimate of the price of a square meter of land in this area at twenty thousand pounds.

Khalil added that the potential selling value of real estate that can be built on this land, based on the consensual plan between the government and the people, which includes housing them in new buildings within the triangle on an area of ​​12 acres, will not be less than 15 billion pounds.

official bullying

A colonial project under the auspices of the Emirates began to expropriate 915 plots of land in the Maspero Triangle in central Cairo, without proper compensation to their owners, considering it a government “thug” to serve the Emirati agenda behind the development of the Triangle project, as part of the UAE’s efforts to control vital sectors in Egypt under the coup regime .

Specialists point out that with the new government’s decision, the Maspero Triangle joins the islands of Warraq, Muhammad and Dahab, which the military coup regime expropriated to serve Emirati investors, who expanded in acquiring vital areas of the Nile and central Cairo, to establish tourism and entertainment projects and luxury hotel chains.

The Official Gazette had published the decision of the head of the coup government, Mustafa Madbouly, to expropriate 915 plots in the Maspero Triangle area, which is located in the area between the Ministry of Foreign Affairs and the Radio and Television building on the Nile Corniche, and extends from Abdel Moneim Riyad Square to Al-Galaa Street and 26 July in central Cairo, with a total area estimated at With 51 acres.

The government has evacuated nearly 4,100 families, while 200 families refuse to leave their homes. Compensation has been paid to 2,880 families, while 437 families were transferred to the Asmarat neighborhood in Mokattam.

Although a square meter of land in this area ranges from 25 to 100 thousand pounds, and a total of 120 billion pounds, the government has set compensation at 433 million pounds only, at 100 thousand per room, or owning a housing unit in the Asmarat neighborhood, or spending 40 A thousand pounds to rent an alternative housing until the completion of the development project.

Emirati influence

These developments come as part of a series of measures that consolidated Emirati influence in Egypt, where the Egyptian coup regime had spoken last year about selling the archaeological pyramids area in Giza, to the UAE to manage it for 20 years, to carry out development operations and pump 50 million dollars.

The UAE supported the Sisi regime with financial aid before it seized power, but after he came to power it gradually declined, after which its companies began the process of seizing the lion’s share of investments in the market, after the regime opened the door wide for it and legitimized its penetration into the joints of the economy.

In July 2017, the Emirati ambassador to Cairo, Jumaa Al-Junaibi, revealed in press statements that the volume of his country’s investments in the Egyptian market amounted to more than 6.2 billion dollars, managed through 877 joint companies.

According to information published by the Central Bank of Egypt, in June 2017, Abu Dhabi ranks first in terms of the most important trading partners with Cairo; The volume of trade exchange amounted to about 3 billion dollars in the first half of the fiscal year, of which 1.17 billion dollars were exports.

The size of the projects that Abu Dhabi acquired through its companies during the past seven years under the title of investment makes the most important joints of the Egyptian economy under its control.

In a report by the Egyptian Institute for Studies, entitled “The future of Emirati policy towards Egypt,” the institute monitored the relationship between the Sisi regime and the UAE since the military coup and the political and economic goals that prompted the UAE to support Sisi’s coup.

Among the most prominent Emirati goals in supporting Sisi’s coup, the report stated, is to control the capabilities of the Egyptian economy, as the UAE has provided unlimited economic support to the Sisi regime in order to stabilize its pillars and tighten control over the country, and then developed a plan to control the Egyptian economy and transform from the financier The Egyptian regime is the partner in the economy, according to leaked documents.

Source: بوابة الحرية والعدالة by fj-p.com.

*The article has been translated based on the content of بوابة الحرية والعدالة by fj-p.com. If there is any problem regarding the content, copyright, please leave a report below the article. We will try to process as quickly as possible to protect the rights of the author. Thank you very much!

*We just want readers to access information more quickly and easily with other multilingual content, instead of information only available in a certain language.

*We always respect the copyright of the content of the author and always include the original link of the source article.If the author disagrees, just leave the report below the article, the article will be edited or deleted at the request of the author. Thanks very much! Best regards!