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Wednesday, 27 November 2019

Emaar Misr purchases new land in Sheikh Zayed extension

Emaar Misr has purchased a 500-feddan land plot in Sheikh Zayed extension for an undisclosed amount, head of the Sheikh Zayed City Development Authority Mostafa Fahmy said, according to Mubasher. A separate report from the news outlet indicates the property developer also purchased 68.5 feddans in the same area. While it remains unclear whether these are two separate pieces of land, the report suggests that the 68.5-feddan plot is the same one that Emaar had ceded ownership of earlier this year. Last we heard, Emaar was in talks with authorities over paying fees levied against the company for changing the purpose of the land plot from agriculture to housing.

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