ليه تهجير المصريين بيضر الاستثمار؟ قصة هاسيندا رأس الحكمة

Why does displacing Egyptians from their homes hurt investment instead of serving it?

Because investment runs on one thing: contracts that hold. A contract is binding law between its parties, and laws don't get tailored and refitted to the mood of the moment, enforced when we please and thrown in the trash when we please. Investors, Egyptian or foreign, put their money where paper means something, and pull it out of anywhere a contract can be erased by an ad campaign. Egypt wins when its contracts are honored. What is happening in Ras El Hekma right now broadcasts the opposite.

Who we are in this story

We are the families of Disney Beach and Baghoush… Egyptian owners from every walk of life, Egyptians through and through. Ours was the first project Egypt's General Authority for Investment ever launched on the northwest coast. Our parents bought our homes in 1987 from the state itself, under a contract signed personally by the Minister of Tourism. The village plans were approved in 1988, and it opened in September 1992. Three generations have lived in these homes since. And some have been on this land for thousands of years, since before there was a state at all.

Then came the Hacienda Ras El Hekma ads

Then we woke up one day to find our homes advertised inside a new mega project by one of Egypt's biggest real estate developers, a project called "Hacienda Ras El Hekma." The homes we live in today, marketed and sold to strangers at 500 million pounds a house, as if our very homes do not exist, as if we are invisible.

After the ads came the bulldozers, right up to the houses. It was the security forces who stopped them that day, because there was simply no legal basis for any demolition. Then the power and water were cut with us inside. We lived that way for months, until we put solar panels on the roofs, brought in water tanks, and carried on. Every step is documented in official reports and numbered complaints to the prosecution. We are not dust to be swept aside and stepped on in silence.

2022, and the truth about the shares

And here is what no advertisement will tell you: in 2022, the developer's companies bought shares from some of the owners. Buying shares makes you a shareholder. It does not make you owner of the whole land, and it does not give you the right to sell the other co-owners' shares. Selling what you don't own is void. That is precisely the case now before the State Council.

So the question every investor should be asking: if a contract signed by the state itself can be stepped on today, what guarantees any contract tomorrow?

We are not asking anyone for favors, we are standing on our right, nothing more. We are co-owners in common under an official state sale contract, under Investment Law 43 of 1974 and Egypt's General Authority for Investment. Commercial Register No. 243949 proves it. Case No. 57480 is before Egypt's State Council, and we trust Egypt's judiciary.

Read the documents yourself, every page is on this site, and share this article. One share can put our story in front of someone who can make a difference. And if you know someone about to reserve a unit there, tell them to ask first.