Egypt to Raise Price of Land Sold to Egyptian Resorts, Mal Says

Egypt’s Tourism Development Authority plans to raise the value of 20 million square meters (215 million square feet) of land the government earlier agreed to sell to Egyptian Resorts Co. (EGTS), Al Mal reported, citing unidentified persons at the agency.

The value of the land will be revised to $175 million from $30 million, the newspaper said.