Egypt denies Nile Corniche lands are being put up for sale

Egypt's Cabinet media center said reports that the Urban Development Fund is offering Nile Corniche-adjacent lands for sale are inaccurate, describing the current work as an inventory.

• The Cabinet Media Center said reports that the Urban Development Fund is offering Nile Corniche-adjacent lands for sale are inaccurate.
• The fund said work is limited to inventorying underutilized land and buildings and studying optimal uses before determining suitable projects.
• The fund said it formed a committee, chaired by its board chairman, to review investor requests and set technical, financial, and legal criteria.
• The fund said the lands remain owned by various state entities, and the media center urged citizens to verify information from official sources.
• Urban Development Fund spokesman Ihab Hanafi said the inventory catalogued roughly 192 plots in Cairo and 82 in Giza, totaling nearly 745 feddans.
• Hanafi said Nile waterfront projects will not obstruct the river or harm surrounding areas, stressing beautification and revival of historic districts.
• He said development should not involve cutting existing trees, citing the Fustat Gardens as the fund's development model.