Featured in Enterprise: Egypt signs dispute settlement agreement on El Nasr for Steam Boilers with Al Kholoud.
The dispute between Al Kholoud for Touristic and Real Estate and the government over their land plot housing El Nasr for Steam Boilers has come to an end.
Youssef & Partners (Youssef + Partners) served as legal counsel to Al Kholoud during arbitration, and represented investors during the settlement negotiations, reassuring the agreement was properly made and all parties were satisfied at the resolution.
After cabinet signing in July, the two parties have agreed to a dispute settlement agreement and the government has dropped its claim to the EGP 600 Mn it was owed by Al Kholoud.
Al Kholoud has likewise returned the 29-feddan land plot back to the government, settling the dispute without resorting to arbitration.