Ann: Media announcement by Hassan Allam Holding, page-30

Hi dungiven, you remembered well.

Just as what you did, the first thing I did when I saw Morganp's post was to look at the MOU that you linked. It then dawned on me that FLC must have regretted coming out brazenly with such an announcement when it was only an MOU. Never tell the world your standing with the Govt, not when you are operating in an Islamic country and your roots are, well, not that welcomed in the Arabic world.

My second thought after reading up on New Mansoura was, FLC has not stopped working on that first MOU that you linked. FLC is still involved in the planning , studying the feasibility etc, working with the powers to be with their urban planning.

Third thought, FLC is up there with in its relationships with the major construction giants. Orascom and HA are the principal builders of Egypt and the founders have Egyptian roots.

FLC now just has to keep working with its nose to the ground, but my advise is, keep your nose clean. Working in these countries call for operating with integrity in the highest levels. Never go for the short cuts and succumb to their "work" culture because it always come up to haunt you. Keep it professional.