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Government resolves dispute with developer SODIC: Minister of Industry

Reuters – Egypt has settled a dispute with SODIC over the property developer’s Eastown scheme after the firm agreed to pay EGP 900m ($129m) in installments over about seven years, the Minister of Industry and Foreign Trade said on Sunday. “The dispute is closed,” Mounir Fakhry Abdel Nour said of the legal dispute over the …

Daily News Egypt

Real estate developers invest EGP 500m in New Cairo

The Council Director of the New Cairo District, Kamal Fahmi, revealed that 13 real estate development companies have benefitted from the financing leeway put in place during Prime Minister Ganzouri’s tenure, the facilitation for settling the outstanding debts for the lands acquired by the city. Fahmi stated that 13 companies paid EGP 500 million, which …

Daily News Egypt