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Thursday, 28 March 2019

CPG in talks with Egypt’s NUCA to acquire 500 feddans in Sheikh Zayed

Capital Group Properties (CPG) is in talks with the New Urban Communities Authority (NUCA) to purchase 500 feddans in Sheikh Zayed for a “residential touristic project,” Chief Projects Officer Amgad Hassanein told the local press. The project could be developed under a private-public partnership agreement, Hassanein said. This comes as NUCA plans to tender land plots ranging from 20-150 feddans in new cities to private sector developers, Ragaa Fouad, NUCA vice president for project planning tells Al Mal. Fouad didn’t mention the timeline for the tenders or the specific locations of the land.

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