Egypt’s property developer, Talaat Moustafa Group Holding Company (TMG), denies buying an airport land in Alexandria, Invest-Gate reports.

The company’s statement comes as a response to negate news circulating in the media regarding this issue, according to a bourse filing.

Meanwhile, the developer’s CEO Hisham Talaat Mostafa has paid a visit to Saudi Arabia to meet the Kingdom’s Minister of Housing as part of the activation of a memorandum of understanding (MoU) signed in April 2016, according to a bourse statement published on July 31.

The company is also working to settle suspended matters with the New Urban Communities Authority (NUCA).