Orascom Investment Holding’s (OIH) Naguib Sawiris is reportedly hoping to enter into a partnership agreement with the New and Urban Communities Authority (NUCA) to jointly develop land for a residential project in the Sheikh Zayed City extension, sources told Al Shorouk. OIH is looking to use funds from its recent USD 90 sale of subsidiary MENA Submarine Cable Systems to develop at least 1,000 feddans. No further details were provided.

Tags: