Saturday 23 November 2024
 
»
 
»
Story

Egypt court delays Talaat land sale ruling

Cairo, August 1, 2010

Egypt's High Administrative Court postponed until August 5 a ruling on the Madinaty land sale deal between the housing ministry and Talaat Moustafa Group (TMG), the court said on Sunday.

A lower court ruled last month that the New Urban Communities Authority (NUCA), a body under the ministry, broke the law by selling the land directly to a TMG unit and not opening it up to bidding, and the contract should be scrapped.

NUCA and TMG separately appealed the ruling.

"The court has decided to merge the two appeals and to issue one verdict on both of them on August 5," judge Moustafa Hanafy said.-Reuters




Tags: Egypt | Talaat Moustafa Group | land sale ruling |

More Construction & Real Estate Stories

calendarCalendar of Events

Ads