The Tourism Development Authority (TDA) has decided to price its land plots in EGP instead of USD, in an attempt to attract investors to its upcoming launch, in light of the high volatility in USD/EGP rate. According to Serag El Din Saad, Head of TDA, the decision came in response to investors’ requests. The Authority used to collect advances and installment payments in USD, which resulted in doubling investors’ due payments post-float. This has led tourism projects’ investors to return 27 out of a total of 103 land plots won between May and November 2016. On a related note, companies which had been allocated land at the North Coast have requested to pay their advances in installments, because of increased costs.