Talaat Moustafa Group Holding is in negotiations with the New and Urban Communities Authority (NUCA) to acquire 5,000 feddans of land it plans to use for expansions in New Cairo, a source familiar with the matter tells Al Mal. NUCA is currently willing to give the company as much as 1,000 feddans, but the company has been driving a hard bargain, offering to develop the area in partnership with the state. NUCA has set the price at EGP 4,000 per sqm.

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