{"id":567151,"date":"2020-01-14T03:59:46","date_gmt":"2020-01-14T03:59:46","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2020\/01\/14\/qatari-diar-offers-olive-branch-to-litigious-city-gate-clients\/"},"modified":"2020-01-14T03:59:46","modified_gmt":"2020-01-14T03:59:46","slug":"qatari-diar-offers-olive-branch-to-litigious-city-gate-clients","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2020\/01\/14\/qatari-diar-offers-olive-branch-to-litigious-city-gate-clients\/","title":{"rendered":"Qatari Diar offers olive branch to litigious City Gate clients"},"content":{"rendered":"

Qatari Diar offers City Gate customers quid pro quo:<\/strong> Qatari Diar has offered amended contract terms to clients of its City Gate project<\/a> in exchange for them dropping lawsuits against the company, according to Al Shorouk.<\/a> A number of Qatari Diar\u2019s customers began legal proceedings after the company \u2014 which has long looked for an exit<\/a> from the New Cairo development \u2014 tried to terminate the contracts and return to customers their installments.<\/p>\n

Under the amended contracts,<\/strong> Qatari Diar will need to begin constructing the units within the next three years and ensure that they take no longer than three years to be delivered. The company would be able to subcontract the construction work or sell the project to another company, provided the units are completed on time. Development in the City Gate project was halted back in 2016<\/a> when armed men took over the land plot.<\/p>\n

Qatari Diar may be close to solving some of its problems:<\/strong> Local media reported last October<\/a> that Naguib Sawiris\u2019 Ora Developers was in \u201cadvanced talks\u201d to acquire a 51% stake in the project for USD 800 mn, an acquisition that would help resolve Qatari Diar\u2019s four-year legal row with the New Urban Communities Authority and dispute with the government \u2014 both caused by the Doha-based company\u2019s failure to complete the project.<\/p>\n","protected":false},"excerpt":{"rendered":"

Qatari Diar offers City Gate customers quid pro quo: Qatari Diar has offered amended contract terms to clients of its City Gate project in exchange for them dropping lawsuits against the company, according to Al Shorouk. A number of Qatari Diar\u2019s customers began legal proceedings after the company \u2014 which has long looked for an […]<\/p>\n","protected":false},"author":1,"featured_media":567152,"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":[8572],"tags":[7097,10198,72,296,83,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-567151","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round","tag-development","tag-diar","tag-enterpriseam","tag-qatar","tag-real-estate","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"a1bc8420-8e75-49a8-8421-4fabc695dc5a","is_powered_by":true,"section_story_id":"88ddb85d-ab24-4691-92f9-f75fe4c9d301","story_type":"1","photo_url":"https:\/\/ent.news\/2020\/1\/596.jpg","photo_position":"above","related_issue":[567130],"teaser":"","voice_url":""},"yoast_head":"\nQatari Diar offers olive branch to litigious City Gate clients - 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\/2020\/01\/14\/qatari-diar-offers-olive-branch-to-litigious-city-gate-clients\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Qatari Diar offers olive branch to litigious City Gate clients\" \/>\n<meta property=\"og:description\" content=\"Qatari Diar offers City Gate customers quid pro quo: Qatari Diar has offered amended contract terms to clients of its City Gate project in exchange for them dropping lawsuits against the company, according to Al Shorouk. A number of Qatari Diar\u2019s customers began legal proceedings after the company \u2014 which has long looked for an […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2020\/01\/14\/qatari-diar-offers-olive-branch-to-litigious-city-gate-clients\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2020-01-14T03:59:46+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2020\/1\/596.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\/2020\/01\/14\/qatari-diar-offers-olive-branch-to-litigious-city-gate-clients\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/01\/14\/qatari-diar-offers-olive-branch-to-litigious-city-gate-clients\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Qatari Diar offers olive branch to litigious City Gate clients\",\"datePublished\":\"2020-01-14T03:59:46+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/01\/14\/qatari-diar-offers-olive-branch-to-litigious-city-gate-clients\/\"},\"wordCount\":225,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/01\/14\/qatari-diar-offers-olive-branch-to-litigious-city-gate-clients\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2020\/1\/596.jpg?fit=%2C&ssl=1\",\"keywords\":[\"development\",\"Diar\",\"EnterpriseAM\",\"Qatar\",\"real estate\",\"SPEED ROUND\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/01\/14\/qatari-diar-offers-olive-branch-to-litigious-city-gate-clients\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2020\/01\/14\/qatari-diar-offers-olive-branch-to-litigious-city-gate-clients\/\",\"name\":\"Qatari Diar offers olive branch to litigious City Gate clients - 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The acquisition would resolve Qatari\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\/2020\/2\/73.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":559128,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/01\/11\/qatari-diar-to-resume-city-gate-project\/","url_meta":{"origin":567151,"position":2},"title":"Qatari Diar to resume City Gate project","author":"enterpriseam admin","date":"11 January 2021","format":false,"excerpt":"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\u2026","rel":"","context":"In "Real estate"","block_context":{"text":"Real estate","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/real-estate\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","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":567151,"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 "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\/2\/2747.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":581776,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/02\/23\/govt-to-offer-guaranteed-prices-for-farmers-plus-news-from-qatari-diar\/","url_meta":{"origin":567151,"position":4},"title":"Gov\u2019t to offer guaranteed prices for farmers. PLUS: News from Qatari Diar.","author":"enterpriseam admin","date":"23 February 2023","format":false,"excerpt":"COMMODITIES-Farmers to sell corn, soy and sunflower to gov\u2019t at guaranteed prices: Ministers approved yesterday setting price floors for corn, soybean and sunflower crops sold by farmers to the government, cabinet said in a statement. Following the decision, GASC will purchase soybeans at a minimum price of EGP 18k per\u2026","rel":"","context":"In "Also on our Radar"","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\/2022\/8\/Egypt-farm-1600px.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":653156,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/01\/30\/al-montazah-threatens-to-sue-qatari-diar-over-sharm-el-sheikh-project\/","url_meta":{"origin":567151,"position":5},"title":"Al Montazah threatens to sue Qatari Diar over Sharm El Sheikh project","author":"enterpriseam admin","date":"30 January 2017","format":false,"excerpt":"Qatari Diar\u2019s hold up with the City Gate project is reportedly having an impact on its other projects. State-owned Al Montazah for Tourism and Investment issued a warning to Diar that it would file a lawsuit against the company if it fails to meet delivery on its 300K sqm resort\u2026","rel":"","context":"In "Real Estate + Housing"","block_context":{"text":"Real Estate + Housing","link":"https:\/\/enterpriseam.com\/egypt\/category\/real-estate-housing\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/567151","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=567151"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/567151\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/567130"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/567152"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=567151"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=567151"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=567151"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=567151"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=567151"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}