For the second time in the same month, Shahid Law Firm succeeded in amicably preserving and upholding its client’s investment rights in a mega plot located in the 6th of October Area (North of Cairo) through representation before the Ministerial Committee for the Resolution of Investment Disputes*.
The plot subject to the dispute was withdrawn from the client following a decision issued by the New Urban Communities Authority on January 19, 2014.
Shahid Law’s Chairman, Counselor Sarwat Abd El-Shahid, and Partner Ahmad Mostafa successfully obtained the revocation decision along with the cancellation of the request by authorities to revalue the price of the land. Further, the Ministerial Committee decision obliged the 6th of October Municipality to extend the basic utilities to the outer boundaries of the land, in addition to issuing the necessary building licenses.
*A committee that convenes regularly under the auspices of the Minister of Justice to consider disputes arising between investors and administrative bodies, with decisions that are binding on ministries, administrative bodies, authorities and municipalities after being ratified by the Cabinet