{"id":558632,"date":"2021-08-19T03:56:00","date_gmt":"2021-08-19T03:56:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/19\/misr-travel-structure-line-reach-egp-500-mn-settlement\/"},"modified":"2021-08-19T03:56:00","modified_gmt":"2021-08-19T03:56:00","slug":"misr-travel-structure-line-reach-egp-500-mn-settlement","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/19\/misr-travel-structure-line-reach-egp-500-mn-settlement\/","title":{"rendered":"Misr Travel, Structure Line reach EGP 500 mn settlement"},"content":{"rendered":"

<\/a> Misr Travel ends its dispute with Structure Line: <\/strong>Saudi Structure Line Development<\/a> has agreed to pay an EGP 500 mn settlement to Holding Company for Tourism and Hotels subsidiary Misr Travel<\/a> to end a years-long dispute over land in Nasr City, Hapi Journal<\/a> reports, citing a statement. The company will pay in installments over six months, with the initial EGP 90 mn payment occurring after the final agreement has been signed. Enterprise was unable to independently verify the veracity of the claims made by the newspaper.<\/p>\n

What\u2019s the dispute about? <\/strong>Both companies had signed an agreement<\/a> in 2016 to develop a residential project, dubbed Arena City Towers, on land owned by Misr Travel. Under the agreement, Misr Travel was entitled to have 51% of the project\u2019s total sales over quarterly installments through a joint bank account to be opened by the Saudi side. However, Structure Line breached the agreement terms by taking all the project\u2019s down payments for itself, failing to pay dues worth EGP 175 mn to Misr Travel since April 2019.<\/p>\n

What\u2019s next?<\/strong> Structure Line will resume work on the project after obtaining all the necessary licenses from the concerned government bodies.<\/p>\n","protected":false},"excerpt":{"rendered":"

Misr Travel ends its dispute with Structure Line: Saudi Structure Line Development has agreed to pay an EGP 500 mn settlement to Holding Company for Tourism and Hotels subsidiary Misr Travel to end a years-long dispute over land in Nasr City, Hapi Journal reports, citing a statement. The company will pay in installments over six […]<\/p>\n","protected":false},"author":1,"featured_media":558633,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8678],"tags":[957,72,83],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-558632","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-dispute-watch","tag-dispute-watch","tag-enterpriseam","tag-real-estate","wpautop","entry"],"acf":{"mongo_id":"f38f43a2-71ba-4a72-b60f-d784031f37fb","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/8\/209.jpg","photo_position":"above","related_issue":[558622],"teaser":"","voice_url":""},"yoast_head":"\nMisr Travel, Structure Line reach EGP 500 mn settlement - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2021\/08\/19\/misr-travel-structure-line-reach-egp-500-mn-settlement\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Misr Travel, Structure Line reach EGP 500 mn settlement\" \/>\n<meta property=\"og:description\" content=\"Misr Travel ends its dispute with Structure Line: Saudi Structure Line Development has agreed to pay an EGP 500 mn settlement to Holding Company for Tourism and Hotels subsidiary Misr Travel to end a years-long dispute over land in Nasr City, Hapi Journal reports, citing a statement. The company will pay in installments over six […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2021\/08\/19\/misr-travel-structure-line-reach-egp-500-mn-settlement\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2021-08-19T03:56:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2021\/8\/209.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/08\/19\/misr-travel-structure-line-reach-egp-500-mn-settlement\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/08\/19\/misr-travel-structure-line-reach-egp-500-mn-settlement\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Misr Travel, Structure Line reach EGP 500 mn settlement\",\"datePublished\":\"2021-08-19T03:56:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/08\/19\/misr-travel-structure-line-reach-egp-500-mn-settlement\/\"},\"wordCount\":200,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/08\/19\/misr-travel-structure-line-reach-egp-500-mn-settlement\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2021\/8\/209.jpg?fit=%2C&ssl=1\",\"keywords\":[\"dispute watch\",\"EnterpriseAM\",\"real estate\"],\"articleSection\":[\"DISPUTE WATCH\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/08\/19\/misr-travel-structure-line-reach-egp-500-mn-settlement\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2021\/08\/19\/misr-travel-structure-line-reach-egp-500-mn-settlement\/\",\"name\":\"Misr Travel, Structure Line reach EGP 500 mn settlement - 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dispute: Property developer Emaar Misr has signed a preliminary agreement with the Egyptian government on a proposed settlement to resolve a dispute with state-owned El Nasr Housing over the Emirati company\u2019s alleged failure to develop 3 mn\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":593468,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/11\/28\/emaar-signs-settlement-agreement-with-nuca-to-move-ahead-with-west-cairo-project\/","url_meta":{"origin":558632,"position":1},"title":"Emaar signs settlement agreement with NUCA to move ahead with West Cairo project","author":"enterpriseam admin","date":"28 November 2019","format":false,"excerpt":"DISPUTE WATCH- Emaar signs settlement agreement with NUCA to move ahead with West Cairo project: Emaar Misr has signed a final agreement with the New Urban Communities Authority to settle a dispute with the authority and purchase land surrounding its planned Cairo Gate compound in Sheikh Zayed, according to a\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2019\/3\/768.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":596825,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/07\/09\/emaar-to-pay-el-nasr-egp-100-mn-to-settle-dispute\/","url_meta":{"origin":558632,"position":2},"title":"Emaar to pay El Nasr EGP 100 mn to settle dispute","author":"enterpriseam admin","date":"9 July 2019","format":false,"excerpt":"DISPUTE WATCH- Emaar to pay El Nasr EGP 100 mn to settle dispute: Property developer Emaar Misr has agreed to pay state-owned El Nasr Housing EGP 100 mn to settle their 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El Nasr brought an arbitration case against the local subsidiary of UAE-based Emaar in\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2019\/7\/2993.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":596773,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/07\/08\/emaar-el-nasr-sign-dispute-resolution-agreement\/","url_meta":{"origin":558632,"position":5},"title":"Emaar, El Nasr sign dispute resolution agreement","author":"enterpriseam admin","date":"8 July 2019","format":false,"excerpt":"DISPUTE WATCH- The Emaar vs. El Nasr beef is finally over: Property developers Emaar Misr and state-owned El Nasr Housing will drop all arbitration cases against each other as part of a dispute resolution agreement signed last week, Emaar said in a bourse filing (pdf). 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