Prosecutor General Hisham Barakat on Wednesday issued a decree returning four land plots in Sharm el-Sheikh, which were illegally allocated to businessman Hussein Salem, to the state's property.
The four plots, sized around 250,000 square meters and located next to Naama Bay tourist area, were allocated to a number of companies that are owned by the fugitive billionaire.
The prosecution investigations figured out that the allocation inflicted major damage to the public funds and that the companies have violated the allocation terms and conditions.
The decree has nothing to do with any other criminal rulings against Salem as well as settlement agreements between the businessman and the government, said a well-placed official with the prosecution.
GMT 00:37 2018 Wednesday ,24 January
Bitcoin slumps below $10,000GMT 22:49 2018 Tuesday ,23 January
Sharjah apartment rents see steep decline in 2017GMT 19:15 2018 Tuesday ,23 January
Emirati fined Dh2.2m for embezzling public fundsGMT 22:27 2018 Monday ,22 January
Jafza bridge benefits trade, logistics supply chainGMT 22:21 2018 Monday ,22 January
Damac chairman to speak on digital skillsGMT 10:55 2018 Monday ,22 January
Bahrain-Indian economic ties discussedGMT 22:42 2018 Saturday ,20 January
'Massive' infrastructure spending needed in AfricaGMT 12:49 2018 Tuesday ,16 January
Tabarak Buys Majority Stake in a Private CompanyMaintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Send your comments
Your comment as a visitor