WHAT IS THE REASON FOR EGYPT SELLING THE MOST BEAUTIFUL SEASIDE TOWN? Egypt, with a population of more than 109 million, is grappling with a severe economic crisis, with record inflation and a shortage of foreign currency. According to official data, Annual inflation in Egypt reached nearly 40 percent in August, leaving many Egyptians close to or below the poverty line. Reports have emerged that investors from the United Arab Emirates are set to buy the Mediterranean city of Ras al-Hikma in northwestern Egypt , spending a sum of $ 35 billion , sparking widespread outrage in the country. This would immediately attract $20 billion in “ foreign direct investment and financin g ”. The area is part of the city of Marsa Matrouh in the Matrouh province. Its 50-kilometer-long coastal strip, located between the cities of Dabaa and Marsa Matrouh, is one of the most pristine beaches in the world, with white sand and turquoise waters. There are approximately 25,000 permanent re...