The New Urban Communities Authority (NUCA) reportedly rejected Orascom Housing Communities (OHC)’s settlement offer to buy the remaining 1380 feddans in the disputed Haram City housing project for EGP 35 per sqm, government sources tell Al Shorouk. The source added that NUCA is pushing for the land to be bought at current market prices which are higher. OHC also reportedly offered to donate 1,000 homes to the Tahya Masr Fund and give NUCA equity in the firm if it would help secure funding for the project, after OHC agreed to buy out its US partners who have filed an international arbitration case against the authority. We had last heard that Ittihadiya was going to come in to help push for a resolution to the dispute, which arose when NUCA provided only 620 feddans from an original contract of 2,000 feddans.

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