Egypt will not change terms for a new contract for Talaat Moustafa's flagship Madinaty project and will take 7 percent of the project's completed housing units, as in the original deal, a newspaper reported.   

"There will be no change in the contract terms, the state will get a 7 percent compensation for (areas) built-up on," Egyptian Housing Minister Ahmed el-Maghrabi was quoted as saying by Al-Ahram published on Tuesday.

Egypt's cabinet said on Sunday it would scrap the original contract for TMG's estimated $3 billion Madinaty project after a court ruled the deal was illegal, but would reallocate the same land to the firm in a new contract. - Reuters