n principle, the land has already been confiscated by the TDA. First of all, an arrangement would have to be made with the TDA regarding the penalty, which is non-negotiable (see also the file). The debt (penalty and arrears) to the TDA at that time amounted to USD 486,000. Only if the aforementioned amounts are paid can a further postponement be obtained for the development and operational delivery of the project. The lump sum for a two-year extension is USD 4,500 and 1 million Egyptian pounds (approx. USD 53,363). These amounts must be paid within a reasonable period to prevent the project from being definitively and irrevocably expropriated by the TDA. Penalties are not negotiable. In addition, we must pay our lawyer, who will have to lodge an objection against the decision. Given the short deadline, he could file a pro forma objection, but in that case the El-Skarkawi participants must provide a new power of attorney and clear agreements must be made about the course of the procedure and the costs of legal representation. This will become very expensive, and the question remains: who is willing to contribute to these costs?

I understand the point of view that every opportunity for success should be seized. However, every subsequent step will require additional financial resources. Moreover, we see no reason (anymore) why the TDA would reconsider its position. As a board, we are currently in the process of deregistering with the Chamber of Commerce. Everyone is free to pursue individual initiatives, with or without our lawyer.