{"id":559128,"date":"2021-01-11T03:45:20","date_gmt":"2021-01-11T03:45:20","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/01\/11\/qatari-diar-to-resume-city-gate-project\/"},"modified":"2021-01-11T03:45:20","modified_gmt":"2021-01-11T03:45:20","slug":"qatari-diar-to-resume-city-gate-project","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/01\/11\/qatari-diar-to-resume-city-gate-project\/","title":{"rendered":"Qatari Diar to resume City Gate project"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-04\"><\/a> <strong>Qatari Diar will resume work on its <\/strong><strong><a href=\"http:\/\/www.qataridiar.com\/English\/OurProjects\/Pages\/City-Gate.aspx\">CityGate<\/a><\/strong><strong> project after getting the green light <\/strong><strong>from the New Urban Communities Authority <\/strong>(NUCA), seemingly putting an end to a four-year dispute over the developer failing to deliver on construction targets, <a href=\"http:\/\/bit.ly\/39baOos\">Al Shorouk<\/a> reports, citing unnamed sources. East Gate, owner of the development and Qatari Diar subsidiary, had asked for a license to continue working, which the sources said was approved by the authority, without providing further details.<\/p>\n<p><strong>What was the beef about?<\/strong> It\u2019s a long and complicated story <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7861345f-c750-41d3-81a9-fbc6bdbaa1aa\">that we went into detail here<\/a>, but the crux of the matter stems from a change East Gate made to the original contract, to which NUCA demanded the Qatari company cough up EGP 1.3 bn to cover the accompanying fees. The Council of State\u2019s administrative court overturned the fine <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7861345f-c750-41d3-81a9-fbc6bdbaa1aa\">last July<\/a>.<\/p>\n<p><strong>Coincidence?<\/strong> The decision comes just a few days after Cairo and Doha <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/036bdfbe-0680-448e-a011-b607497ac279\">agreed to end<\/a><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/036bdfbe-0680-448e-a011-b607497ac279\">diplomatic hostilities<\/a> and begin working to restore relations. Egypt, along with Saudi Arabia, Bahrain and the UAE, agreed at last week\u2019s GCC summit to end Qatar\u2019s pariah status in the region and restore trade and travel links after a 3.5-year blockade. On the night that the agreement was inked, Qatari Finance Minister Ali Sharif and Qatari Diar Chairman Khalid bin Khalifa Al Thani flew to Cairo to hold an official opening ceremony for the company\u2019s St Regis Hotel alongside US Treasury Secretary Steve Mnuchin.<\/p>\n<p><strong>OTHER REAL ESTATE NEWS-<\/strong><\/p>\n<ul>\n<li>The US\u2019 <strong><a href=\"https:\/\/www.hillintl.com\/en\">Hill International<\/a><\/strong> and <strong><a href=\"http:\/\/seldar-eg.com\/\">Seldar Misr<\/a><\/strong> subsidiary Gulf Building and Construction signed a cooperation protocol to manage <strong>Al Jazi<\/strong> project in New Cairo \u2014 the first residential compound under the <strong>Marriott<\/strong> brand, reports <a href=\"http:\/\/bit.ly\/3scQH1R\">Hapi Journal<\/a>.<\/li>\n<li><strong>Marriott International <\/strong><a href=\"https:\/\/bit.ly\/3nuRbgt\">is also looking<\/a> to add three- and four- star hotels in touristic cities such as Aswan, New Alamein, and the North Coast to its portfolio.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Qatari Diar will resume work on its CityGate project after getting the green light from the New Urban Communities Authority (NUCA), seemingly putting an end to a four-year dispute over the developer failing to deliver on construction targets, Al Shorouk reports, citing unnamed sources. East Gate, owner of the development and Qatari Diar subsidiary, had [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"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":[7371],"tags":[72,2065,879,296,2112,83],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-559128","post","type-post","status-publish","format-standard","hentry","category-real-estate","tag-enterpriseam","tag-naguib-sawiris","tag-new-urban-communities-authority","tag-qatar","tag-qatari-diar","tag-real-estate","wpautop","entry"],"acf":{"mongo_id":"f383cef8-f700-4ac4-9895-8136b783030b","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[559120],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Qatari Diar to resume City Gate project - 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\/01\/11\/qatari-diar-to-resume-city-gate-project\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Qatari Diar to resume City Gate project\" \/>\n<meta property=\"og:description\" content=\"Qatari Diar will resume work on its CityGate project after getting the green light from the New Urban Communities Authority (NUCA), seemingly putting an end to a four-year dispute over the developer failing to deliver on construction targets, Al Shorouk reports, citing unnamed sources. 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Sources said earlier this year that OIH Chairman Naguib Sawiris had\u2026","rel":"","context":"In &quot;Speed Round&quot;","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":577355,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/20\/qatar-diar-has-eight-years-to-finally-finish-its-city-gate-project-in-new-cairo\/","url_meta":{"origin":559128,"position":1},"title":"Qatar Diar has eight years to finally finish its City Gate project in New Cairo","author":"enterpriseam admin","date":"20 November 2022","format":false,"excerpt":"Qatari Diar has until 2031 to finish City Gate: The New Urban Communities Authority (NUCA) has given Qatari Diar subsidiary East Gate Developments eight years from January 2023 to complete its USD 8 bn City Gate project in East Cairo, Al Shorouk reported yesterday, citing sources familiar with the matter.\u2026","rel":"","context":"In &quot;Also on our Radar&quot;","block_context":{"text":"Also on our Radar","link":"https:\/\/enterpriseam.com\/egypt\/category\/also-on-our-radar\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":573220,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/07\/26\/egyptian-court-overturns-nuca-decision-to-fine-qatari-diars-east-gate-egp-1-3-bn\/","url_meta":{"origin":559128,"position":2},"title":"Egyptian court overturns NUCA decision to fine Qatari Diar\u2019s East Gate EGP 1.3 bn","author":"enterpriseam admin","date":"26 July 2020","format":false,"excerpt":"DISPUTE WATCH- Court overturns NUCA decision to fine Qatari Diar\u2019s East Gate EGP 1.3 bn: The Council of State\u2019s (Maglis El Dawla) administrative court has overturned a decision from the New Urban Communities Authority (NUCA) to hand a EGP 1.3 bn fine to Qatari Diar subsidiary East Gate Developments over\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/7\/200.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":594136,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/10\/21\/sawiris-ora-in-talks-with-qatari-diar-for-51-stake-in-egypts-citygate\/","url_meta":{"origin":559128,"position":3},"title":"Sawiris\u2019 Ora in talks with Qatari Diar for 51% stake in Egypt\u2019s CityGate","author":"enterpriseam admin","date":"21 October 2019","format":false,"excerpt":"M&A WATCH- Ora Developers in talks with Qatari Diar for 51% stake in CityGate: Naguib Sawiris\u2019 Ora Developers is in \u201cadvanced talks\u201d to acquire a 51% stake in the Qatari Diar-owned company developing the CityGate project in New Cairo for USD 800 mn, unnamed sources said, according to Al Shorouk.\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2019\/2\/2747.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":547659,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/07\/03\/as-we-have-stories-like-these\/","url_meta":{"origin":559128,"position":4},"title":"\u2026As we have stories like these","author":"enterpriseam admin","date":"3 July 2022","format":false,"excerpt":"Court strikes down case against Qatari + other Arab investors: An Egyptian court last week acquitted a number of Arab investors connected to Qatari Diar of tax evasion, according to a document seen by Enterprise.What tax evasion case? Qatar\u2019s Barwa Real Estate offloaded most of its assets \u2014 including its\u2026","rel":"","context":"In &quot;DISPUTE WATCH&quot;","block_context":{"text":"DISPUTE WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/dispute-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/7\/80.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":582113,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/02\/13\/three-global-firms-reportedly-eyeing-contract-for-metro-line-1-upgrades\/","url_meta":{"origin":559128,"position":5},"title":"Three global firms reportedly eyeing contract for Metro Line 1 upgrades","author":"enterpriseam admin","date":"13 February 2023","format":false,"excerpt":"TRANSPORT- Three international companies have their sights set on developing Metro Line 1: Germany\u2019s Siemens and French firms Alstom and Colas submitted separate offers late last year in a government tender to develop Cairo\u2019s oldest metro line, Al Mal reports, citing sources it says are in the know. Italian consulting\u2026","rel":"","context":"In &quot;Also on our Radar&quot;","block_context":{"text":"Also on our Radar","link":"https:\/\/enterpriseam.com\/egypt\/category\/also-on-our-radar\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/8\/metro-1600px.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/559128","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=559128"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/559128\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/559120"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=559128"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=559128"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=559128"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=559128"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=559128"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}