The Egyptian Cabinet on Thursday dismissed claims made by Emirati businessman Khalaf Al Habtoor regarding alleged interference by Prime Minister Moustafa Madbouly in a land pricing matter in the North Coast. Cabinet spokesperson Mohamed El Homossani said Al Habtoor's allegation—that the Prime Minister raised the price of a plot from $10 million to $30 million—is completely unfounded and fabricated. He clarified that all relevant state bodies overseeing North Coast lands confirmed they had not received any request from Al Habtoor to acquire land. "Even if he had intended to purchase land from private individuals, why would the Prime Minister intervene in pricing?" El Homossani asked. He stressed that land allocation rules for investment in the North Coast and other areas are clear, transparent, and not subject to political interference. El Homossani reaffirmed Egypt's welcome to Emirati nationals, whether investors or otherwise. "We have Emirati investors who have pumped billions of dollars into the Egyptian market and achieved record-breaking profits, as they themselves often note in the media," he said. Attribution: Cabinet spokesperson Subediting: M. S. Salama
