Madinaty, NUCA Reach Settlement Over 8,000 Acres

Tuesday, 11th October 2016

The New Urban Communities Authority (NUCA) and Talaat Moustafa Group have settled a dispute over 8,000 acres in the Madinaty compound, following the Cabinet’s approval, according to Ragaa Fouad Head of the Project and Planning Department in NUCA, reported Al Mal News.

The committee specialized in resolving investment disputes presented the conflict over the land to the Cabinet, which agreed to a settlement over the disputed area.

The NUCA has rights a total area of around 3,195,894 square meters of finished buildings, as well as approximately EGP 1.123 billion as a premium for altering the activity of 858.25 acres of land from residential use to services, according to Al Borsa.

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