Tourism Development Authority postpones offering land to investors until House approves Investment Act

The Tourism Development Authority (TDA) will postpone land tenders until the House of Representatives signs off on the Investment Act in order to avoid contradictions between the terms of the tenders and the new legislation, sources from the authority told Al Borsa. The TDA is also planning to reprice the land it will be offering to investors after the Investment Act is approved. As we noted earlier this week, the State Council (Maglis El Dowla) has completed its review of the Investment Act and has sent it to the House of Representatives for a vote.