Almost two weeks ago, I posted on how Lebanese are always slow to react and basically wait for bad things to happen to realize something has to be done. This is what happened in Dlebta where the municipality has been trying for the past few days to take back the 7700 square meters land that was sold to a Saudi Prince almost a month after the deal was done and the decree approved and signed by the Prime Minister Najib Mikati and President Michel Suleiman.
If the government approves their proposal, the Saudi Prince who bought the land for 300$ the meter will lose the land and get paid back 38$ per meter, meaning that he will lose 2,310,000$ minus 292,600, which is approximately 2 million dollars. Even though I am against selling our lands to any foreigners, this doesn’t seem like a fair deal.
Isn’t it a better solution if the guy who originally sold the land gives back all the money to the Saudi Prince and takes back his land? Can’t the government come up with some decree to annul the whole thing? I am sure they can.
How can they even put up a decree which is stating cost of 300$ reduced to 38$, wont that discourage any and all foreign investors. I mean if it can be done to one guy on land deal it can be done to another on something else.
To avoid a diplomatic incident (between KSA and LB), I don’t think that this proposal will ever happened.