The New Urban Communities Authority (NUCA) has purchased 300 feddans in El Warraq island in exchange for paying EGP 2 bn in compensation to the owners, a Housing Ministry official told Al Shorouk. The authority is still in negotiations with the owners to take over the rest of the land — estimated at an additional 200 feddans — amid plans by the state to develop the island.
More from Enterprise
Banque du Caire’s blockbuster IPO holds firm against EGX selloff
The IFC and the EBRD are in for USD 100…
Electricity Ministry studies changing how your electricity bill gets calculated
The plan is still under study, and neither of the…
EGX30 sheds 4.43% in October to post its first back-to-back monthly loss of 2026
The benchmark fell 4.43% and the small caps twice as…
DPI closes Egypt-born fintech fund Nclude at USD 112 mn
The final close adds roughly USD 7 mn to a…