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2011
Sajwani v. Egypt Hussain Sajwani, Damac Park Avenue for Real Estate Development S.A.E., and Damac Gamsha Bay for Development S.A.E. v. Arab Republic of Egypt (ICSID Case No. ARB/11/16)
Nationality of the parties
Egypt
United Arab Emirates
Summary of matters at issue
Ownership of 30 square kilometers of land near the Red Sea for a property development project.
Claims arising out of the Government's conviction of Mr. Sajwani and of Egypt's tourism minister on grounds of corruption concerning the investor's acquisition of land in Gamsha Bay for the development of a residential complex.
Economic sector and subsector
Tertiary: L - Real estate activities
68 - Real estate activities
Arbitral rules and administering institution
ICSID (International Centre for Settlement of Investment Disputes)
ICSID (International Centre for Settlement of Investment Disputes)
Composition of tribunal
Tercier, P.
Price, D. M.
Landau, T.
Status/Outcome of original proceedings
Settled
Decisions rendered
Order taking note of the discontinuance of the proceeding issued by the Tribunal dated 10 September 2014, pursuant to ICSID Arbitration Rule 44
Amount of compensation
Data not available
Data not available
IIA breaches alleged/found
Data not available
Not applicable - settled or discontinued before decision on liability
Follow-on proceedings
None
Link to Italaw's case page