{"id":614527,"date":"2024-02-04T00:00:00","date_gmt":"2024-02-04T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/02\/04\/talking-heads-weigh-in-on-whether-the-government-is-planning-the-usd-22-bn-sale-of-egyptian-land-to-gulf-investors\/"},"modified":"2024-02-04T00:00:00","modified_gmt":"2024-02-04T00:00:00","slug":"talking-heads-weigh-in-on-whether-the-government-is-planning-the-usd-22-bn-sale-of-egyptian-land-to-gulf-investors","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/02\/04\/talking-heads-weigh-in-on-whether-the-government-is-planning-the-usd-22-bn-sale-of-egyptian-land-to-gulf-investors\/","title":{"rendered":"Talking heads weigh in on whether the government is planning the USD 22 bn sale of Egyptian land to Gulf investors?"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Uncertainty was the overarching theme on the airwaves last night. <\/strong>If a devaluation is happening, when and by how much? Is the government selling off a huge plot of land to Gulf investors? The talking heads took their time speculating yesterday evening. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Coming to you straight from the rumor mill: <\/strong>No two people appear to be on the same page on whether or not the government will soon ink an agreement selling a huge piece of land in the North Coast\u2019s Ras El Hekma to Gulf investors for USD 22 bn. It is unclear where the news originated from but social media and media reports have had a lot to say since Wednesday, when the story first broke out.Government and industry sources Enterprise spoke to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/63b2b3c7-e986-4f86-9d55-0e234c19c738\" style=\"\" rel=\"noopener\">denied<\/a> that we are nearing an agreement with such a large sum, but one of them explained that foreign investors have been eying Ras El Hekma for some time now. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Moussa is very pro the idea: <\/strong>Ala Masouleety\u2019s Ahmed Moussa came to the agreement's defense after it was met with scrutiny from Egyptians.\u201cRas El Hekma will be a global city on Egyptian soil. Its development has been discussed since 1975 \u2014 it\u2019s not a new topic,\u201d Moussa said (<a target=\"_blank\" href=\"https:\/\/web.facebook.com\/watch\/live\/?ref=watch_permalink&v=1220665252076964\" style=\"\" rel=\"noopener\">watch, runtime: 84:19<\/a>). \u201cWhat about this project upsets you? It\u2019ll bring in investment, it\u2019ll include a green residential area, a tourism and entertainment hub, a medical complex, universities, and advanced industrial areas.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Adib and El Hadidi want more transparency: <\/strong>\u201cIf the agreement is this big, why aren\u2019t we being informed? Why not tell us how much we\u2019re getting? The [government\u2019s] silence is suspicious,\u201d Adib said (<a target=\"_blank\" href=\"https:\/\/fb.watch\/p_h8mtFOty\/\" style=\"\" rel=\"noopener\">watch, runtime: 3:15<\/a>). Kelma Akhira\u2019s Lamees El Hadidi echoed his statements. She called on the government to announce the details of the agreement, explaining that \u201cthe economy isn\u2019t run on voice notes or rumors, but on facts and transparency\u201d (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=DofuCXWFJE8\" style=\"\" rel=\"noopener\">watch, runtime: 5:36<\/a>).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Another thing the nation\u2019s talking heads were speculating about: The when of the <\/strong><strong>imminent EGP devaluation. <\/strong>The central bank will devalue the currency \u201cwithin weeks,\u201d House Budget Committee head Fakhri El Fiqi told El Hadidi (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=SOfkvwh02K0\" style=\"\" rel=\"noopener\">watch, runtime: 8:44<\/a>). El Hadidi, meanwhile, seemed confident that a devaluation will be happening \u201csoon.\u201d She expressed her hopes that this devaluation \u2014 which would mark the fifth time the country has devalued the EGP since 2016 \u2014 will bridge the gap between the official and black market exchange rates (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=3n8r9dvbQic\" style=\"\" rel=\"noopener\">watch, runtime: 2:07<\/a>).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s about a lot more than just devaluating:<\/strong> \u201cIf we don\u2019t make the right choices following the devaluation \u2014 simplifying bureaucratic processes, bringing in more transparency, supporting industry and exports, and making room for the private sector \u2014 we will fall into the same predicament within a year and a half,\u201d El Hadidi warned. Devaluation chatter was also heard on El Hekaya (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=RWiGPlGJgEM\" style=\"\" rel=\"noopener\">watch, runtime: 21:13<\/a>).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- More high-interest CDs on the way? <\/strong>Local banks might soon be rolling out new certificates of deposit (CDs) with yields of over 27% after the central bank hiked interest rates by 200 bps on Thursday, banking expert Tarek Metwally told El Hadidi (<a target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=nCH647J_l0I\" style=\"\" rel=\"noopener\">watch, runtime: 5:46<\/a>).<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Uncertainty was the overarching theme on the airwaves last night. If a devaluation is happening, when and by how much? Is the government selling off a huge plot of land to Gulf investors? The talking heads took their time speculating yesterday evening. Coming to you straight from the rumor mill: No two people appear to [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":614528,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7232],"tags":[838,104,72,1666,272,106],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-614527","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-last-nights-talk-shows","tag-devaluation","tag-economy","tag-enterpriseam","tag-exchange-rate","tag-imf","tag-last-nights-talk-shows","wpautop","entry"],"acf":{"mongo_id":"1714b038-3d78-4554-9eb5-39fd4d9807d3","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/2\/139.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Is the Egyptian government planning the USD 22 bn sale of Egyptian land to Gulf investors?","related_issue":[614509],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/2\/.8dba397b-6c71-488c-9b01-553f1b24c528.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Talking heads weigh in on whether the government is planning the USD 22 bn sale of Egyptian land to Gulf investors? - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2024\/02\/04\/talking-heads-weigh-in-on-whether-the-government-is-planning-the-usd-22-bn-sale-of-egyptian-land-to-gulf-investors\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Talking heads weigh in on whether the government is planning the USD 22 bn sale of Egyptian land to Gulf investors?\" \/>\n<meta property=\"og:description\" content=\"Uncertainty was the overarching theme on the airwaves last night. If a devaluation is happening, when and by how much? Is the government selling off a huge plot of land to Gulf investors? The talking heads took their time speculating yesterday evening. Coming to you straight from the rumor mill: No two people appear to [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2024\/02\/04\/talking-heads-weigh-in-on-whether-the-government-is-planning-the-usd-22-bn-sale-of-egyptian-land-to-gulf-investors\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2024-02-04T00:00:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/139.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/02\/04\/talking-heads-weigh-in-on-whether-the-government-is-planning-the-usd-22-bn-sale-of-egyptian-land-to-gulf-investors\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/02\/04\/talking-heads-weigh-in-on-whether-the-government-is-planning-the-usd-22-bn-sale-of-egyptian-land-to-gulf-investors\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Talking heads weigh in on whether the government is planning the USD 22 bn sale of Egyptian land to Gulf investors?\",\"datePublished\":\"2024-02-04T00:00:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/02\/04\/talking-heads-weigh-in-on-whether-the-government-is-planning-the-usd-22-bn-sale-of-egyptian-land-to-gulf-investors\/\"},\"wordCount\":528,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/02\/04\/talking-heads-weigh-in-on-whether-the-government-is-planning-the-usd-22-bn-sale-of-egyptian-land-to-gulf-investors\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/2\/139.jpg?fit=%2C&ssl=1\",\"keywords\":[\"devaluation\",\"economy\",\"EnterpriseAM\",\"exchange rate\",\"IMF\",\"LAST NIGHT\u2019S TALK SHOWS\"],\"articleSection\":[\"LAST NIGHT\u2019S TALK SHOWS\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/02\/04\/talking-heads-weigh-in-on-whether-the-government-is-planning-the-usd-22-bn-sale-of-egyptian-land-to-gulf-investors\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2024\/02\/04\/talking-heads-weigh-in-on-whether-the-government-is-planning-the-usd-22-bn-sale-of-egyptian-land-to-gulf-investors\/\",\"name\":\"Talking heads weigh in on whether the government is planning the USD 22 bn sale of Egyptian land to Gulf investors? 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The investors are negotiating with the Holding Company for Construction\u2026","rel":"","context":"In &quot;M&amp;A WATCH&quot;","block_context":{"text":"M&amp;A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/1\/271.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":578238,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/12\/20\/the-imf-the-egp-were-the-topics-du-jour-on-the-airwaves\/","url_meta":{"origin":614527,"position":1},"title":"The IMF + the EGP were the topics du jour on the airwaves","author":"enterpriseam admin","date":"20 December 2022","format":false,"excerpt":"The economy dominated the conversation on an otherwise uneventful night on the airwaves. The nation\u2019s talking heads did their best to put a positive spin on the ongoing FX crunch, voicing optimism that the incoming money from the IMF will help to stabilize the EGP and replenish the banking system\u2019s\u2026","rel":"","context":"In &quot;LAST NIGHT\u2019S TALK SHOWS&quot;","block_context":{"text":"LAST NIGHT\u2019S TALK SHOWS","link":"https:\/\/enterpriseam.com\/egypt\/category\/last-nights-talk-shows\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/12\/422.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":577860,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/12\/07\/moroccos-world-cup-win-the-imf-get-attention-on-the-talk-shows\/","url_meta":{"origin":614527,"position":2},"title":"Morocco\u2019s World Cup win + the IMF get attention on the talk shows","author":"enterpriseam admin","date":"7 December 2022","format":false,"excerpt":"It was a mixed bag on talk shows yesterday, with many of the talking heads cheering Morocco\u2019s Lions historic World Cup win against Spain, and Kelma Akhira\u2019s Lamees El Hadidi discussing the IMF loan, which will be discussed by the executive board next week.Nothing is impossible: An ecstatic Lamees El\u2026","rel":"","context":"In &quot;LAST NIGHT\u2019S TALK SHOWS&quot;","block_context":{"text":"LAST NIGHT\u2019S TALK SHOWS","link":"https:\/\/enterpriseam.com\/egypt\/category\/last-nights-talk-shows\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/12\/132.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":614954,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/02\/11\/egypt-could-retain-20-in-ras-el-hekma-following-sale-to-gulf-investor\/","url_meta":{"origin":614527,"position":3},"title":"Egypt could retain 20% in Ras El Hekma following sale to Gulf investor","author":"enterpriseam admin","date":"11 February 2024","format":false,"excerpt":"The cabinet is currently reviewing \u201cinvestment offers for important projects that are expected to generate huge resources of foreign currency\u201d","rel":"","context":"In &quot;Privatization&quot;","block_context":{"text":"Privatization","link":"https:\/\/enterpriseam.com\/egypt\/category\/business\/privatization-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/2\/690.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":615988,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/02\/27\/palestine-gaza-and-a-ras-ghamila-rumors-were-top-of-the-agenda-on-last-nights-talk-shows\/","url_meta":{"origin":614527,"position":4},"title":"Palestine, Gaza, and a Ras Ghamila rumors were top of the agenda on last night\u2019s talk shows","author":"enterpriseam admin","date":"27 February 2024","format":false,"excerpt":"The nation\u2019s talking heads had their attention split between the Palestinian government\u2019s resignation, Ras Ghamila, and the prices of essential commodities","rel":"","context":"In &quot;LAST NIGHT\u2019S TALK SHOWS&quot;","block_context":{"text":"LAST NIGHT\u2019S TALK SHOWS","link":"https:\/\/enterpriseam.com\/egypt\/category\/last-nights-talk-shows\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/2\/2623.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":550476,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/10\/30\/last-nights-talk-shows-the-govt-really-wants-to-talk-about-industry-as-the-egp-devaluation-sends-the-currency-to-record-lows-against-the-greenback\/","url_meta":{"origin":614527,"position":5},"title":"Last Night\u2019s Talk Shows: The gov\u2019t really wants to talk about industry as the EGP devaluation sends the currency to record lows against the greenback","author":"enterpriseam admin","date":"30 October 2022","format":false,"excerpt":"The economy dominated the conversation on the airwaves last night and over the weekend in the wake of the currency devaluation on Thursday and the announcement of a fresh loan agreement with the IMF. 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