Page 35 - issue 66 en

ELITE
ELITE

In theory, this should create a more The resort and yacht club caused
business-friendly environment. In significant coastal erosion and damage
reality, it opens the door to unchecked to nearby beaches—violating
environmental risks. The new environmental laws.
regulations allow both foreign and
domestic businesses to sidestep more Construction continued despite these
rigorous environmental assessments, violations, and the damage was only
speeding up projects at the cost of addressed after public outcry and
oversight. While easing the regulatory government intervention. Emaar

burden may attract investment, it also eventually spent millions on
raises concerns about long-term “mitigation,” but by then, the
environmental damage. Egypt’s environmental harm had already been
constitution clearly mandates that done.
development should not harm citizens'
health or the environment, but these At some point, Egypt will need to face
amendments seem to prioritize short- the reality that sustainable
term economic growth over long-term development isn’t just a buzzword. It’s
sustainability. the only way forward. The current path
—one that favors short-term profit over
Critics warn that this focus on long-term prosperity—will only lead to
immediate profits could have dire more pollution, more diseases, and
consequences for Egypt’s air, water, ultimately, a future where Egypt’s
and ecosystems. It's like cutting natural beauty is just a memory. It’s
corners to save time and money now, time to stop paying lip service to
only to find you’re stuck with a bigger environmental goals and start
mess to clean up later. implementing real change. The clock is
ticking, and we can’t afford to waste

A prime illustration of this short- any more time.
sighted approach is the Marassi Marina
project, developed by Emaar
Properties on Egypt’s northern coast.

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