During the final meeting, the company objected to the proposal, as it was necessary to to resolve technical points related to measurements, construction sites, green areas, roads, population density, and other technical issues. It was suggested that technical aspects of the study be based on the recommendations of the Minister of Housing, Tariq Wafeeq.
On 2/5/2013, the company received a letter from Dr. Najla al-Ahwani concerning the speed of the project communicated to the committee. The Minister of Housing requested maps so that he could assess the company’s proposals.
On 14/5/2013, Dr. Najla al-Ahwani requested a meeting to finalize the agreement with the government in the presence of the Minister of Housing, the Chairman of Urban Planning, the Ministry of Defense, and the Committee for the Settlement of Investment Disputes. The company sent a delegation to the meeting in which the government announced that the 47 billion Egyptian pounds was the only option. The company refused this proposal, stating that the payment must be commensurate with measurements authorized by the armed forces and project timetable. The meeting concluded without reaching a final resolution.
On 19/5/2013, the company demonstrated its serious resolve in re-balancing the negotiations. The company officially agreed to the sum of 47 billion Egyptian pounds proposed by the government. However, the company requested specific technical terms to make the project economically feasible, as well as reasonable payments commensurate with applicable laws.
On 21/5/2013, Ahmed al-Husseini, the advisor and representative for the Committee for the Settlement of Investment Disputes, called the company and stated that the government would accept the company’s offer in principle. However, the company must pay a 50% advance of the agreed upon sum, roughly 23.5 billion Egyptian pounds, by check. This would occur provided that the settlement is signed before the issuance of the presidential decree and before granting the company the necessary permits, as well as after the check is submitted to the government. A settlement was offered to the Council of Ministers. In case of acceptance by the council, the settlement was to be signed following the council’s agreement. The remaining sum would be defrayed, in American dollars, for three years provided that there are no difficult conditions not commensurate with applicable laws
On 23/5/2013, the company refused the investment proposal of Ahmed al-Husseini. The company requested that the responsible parties reconsider, stating that the investment offer was neither rational nor feasible, and that it was unable to review the offer. There was no reason for the unnecessary complexity of the issue. The company management submitted a copy of Ahmed al-Husseini’s investment proposal to the President and to the Prime Minister. A copy was also submitted to the Minister of Housing, the Minister of Investment, the Ministry of Defense, and the Committee for the Settlement of Investment Disputes.
On 26/6/2013, President Morsi’s speech came as a shock since he announced the company’s name and stated that the government undertook the change of activities to 47 billion Egyptian pounds.
On 27/10/2013, a meeting was convened between Abdul Fattah al-Sissi, the Minister of Defense, and the company. The Vice Chairman of the Kuwaiti National Assembly and the Kuwaiti ambassador to Egypt also attended. The company proposed a road map for the settlement and a timeframe for the implementation of its resolution.
On 24/11/2013, a meeting with the armed forces was convened, which formed a subcommittee within the Committee for the Settlement of Investment Disputes. This was done in approval with the Prime Minister to study the measurements and determine payments for the change of activities.