The Misr Italia Group is reportedly planning to sue the Tourism Development Authority (TDA) for ‘ignoring’ its request to amend the terms of an installment plan in light of the EGP float, Al Shorouk reported. The company had purchased 150k sqm of land in Ain Al Sokhna and another 2 mn sqm on the North Coast at USD 150 per meter and had asked the TDA to set an exchange rate for payments based on the USD’s average pre-float value.

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