Cairo governorate: no mistakes committed in Bustan Mall's auction

GMT 21:44 2016 Friday ,01 April

Arab Today, arab today Cairo governorate: no mistakes committed in Bustan Mall's auction

Bustan Mall
Cairo - MENA

Secretary General of the Cairo Governorate Major General Mohammed el Bendari said Friday the governorate committed no mistakes in the public auction on the Bustan Mall, located in Talaat Harb Street in downtown Cairo.

All citizens have the right to to buy bid requirements to participate in the auction, as he said in a statement.

He expounded that a commission, including a counselor of the State Council, examines all documents presented by bidders to approve those who meet needed requirements.

The governorate is not an investigating authority on persons applying for the auction, he added.

A seasoned appraiser determined EGP 18 million for the auction, while value of the bid hit double the requested amount, Bendari said.

No laws prevent accepting double the requested amount, he added. 

The auction was held after the 25-year usufruct contract of the current hirer ended and the mall has to go to bid winner.

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