A protest stand for the detainees in the Arco Lagoon project, the North Coast, against the Arco company

Iskan Misr - Mahmoud Mohamed

A number of clients of the Arab Real Estate Development Company Arco, which owns the city stars mall and the Arco Lagoon project in New Alamein City and owned by Saudi businessman Fahd Al-Shobokshi, organized a protest sit-in at the project site in the new city of Alamein after the delay in its implementation and delivery to customers for more than 4 years.

 The owners appealed to the President of the Republic, accusing the company of procrastinating in handing over their units, and that despite continuous communication with the company’s management and holding several meetings with Arco Managing Director Tariq Farouk, all promises were not implemente

 A number of participants confirmed that the Consumer Protection Agency's refusal to file a collective complaint against the company prompted the owners to organize the vigil and start the escalation for the good movement of the responsible authorities in the state and to restore their right stolen by Arco.

It is worth noting that crises besiege Arco projects in New Cairo and Sheikh Zayed City, where the owners of villas in the "Royal Meadows" project suffer from neglect controlling the project, since the units were handed over to the owners after a delay of more than three years and the suffering is endless, years have passed during which they have tried to obtain their rights  From the company in vain, and other years were wasted in appealing to the concerned authorities to intervene without interest, and the most prominent crisis was in the debts owed by the company in exchange for drinking water consumption, which exceeded 2 million pounds in the middle of 2020, as the water was cut off from the compound to start a more serious incident than water consumption.  Without paying the state’s right, the company made a ground water tank at a cost of 5 million pounds to feed the villas, which was found to be inconsistent with environmental and health specifications.