The government is preparing to offer compensation to citizens affected by the demolitions made in Warraq Island, where residents who refused to be evicted clashed last year with security forces, Prime Minister Moustafa Madbouly announced yesterday, according to a Cabinet statement. Residents can opt for financial compensation, alternative housing in a new city, or resettlement once the development of the island is complete. The government followed a similar compensation structure for the residents of the Maspero Triangle.
More from Enterprise
Israel’s Arkia Airlines moves flights to Egypt’s Taba to bypass wartime airspace restrictions
Israel’s Arkia shifts some flights to Egypt as airspace tightens…
Miga guarantee unlocks USD 313 mn for National Bank of Egypt trade finance
Plus: Incolease taps securitization market with debut EGP 2 bn…
Private capital hasn’t frozen in MENA — but the exit playbook could change if the war drags on
PE and VC-backed companies were already pivoting to local exchanges…
Telda moves into investing with zero-fee stock trading
Telda claims users can sell a position and immediately spend…