{"id":630709,"date":"2018-04-30T04:15:34","date_gmt":"2018-04-30T04:15:34","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/04\/30\/emaar-offers-egp-100-mn-to-settle-uptown-cairo-disputes-with-el-nasr-housing\/"},"modified":"2018-04-30T04:15:34","modified_gmt":"2018-04-30T04:15:34","slug":"emaar-offers-egp-100-mn-to-settle-uptown-cairo-disputes-with-el-nasr-housing","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/04\/30\/emaar-offers-egp-100-mn-to-settle-uptown-cairo-disputes-with-el-nasr-housing\/","title":{"rendered":"Emaar offers EGP 100 mn to settle Uptown Cairo disputes with El Nasr Housing"},"content":{"rendered":"

EXCLUSIVE- Emaar offers EGP 100 mn to settle dispute with El Nasr Housing: <\/strong>The Public Enterprises Ministry will study an offer from Emaar Misr to pay EGP 100 mn to settle an outstanding dispute with the state-owned El Nasr Housing and Reconstruction over Emaar\u2019s Uptown Cairo project, sources told us this week. El Nasr, which filed for arbitration in Cairo last July, is demanding Emaar pay EGP 1 bn and return 3 mn sqm of land in Mokattam it says Emaar has failed to develop since they acquired it in a 2005 agreement. El Nasr is also looking to retrieve 215k sqm it says are technically outside Uptown Cairo\u2019s borders. The head of the Housing Company for Construction and Development, Mahmoud Hegazy, has been tasked with negotiating settlement terms with Emaar.<\/p>\n

Emaar not at fault? <\/strong>Sources tell us that Emaar is not at fault for the delay in its development timeline, as the company has yet to receive the necessary licenses for the project, a fact the Public Enterprises Ministry has acknowledged.<\/p>\n

EARNINGS WATCH-<\/strong> Separately, Emaar Misr reported yesterday a consolidated net profit of EGP 503.3 mn in 1Q2018, up from EGP 437.9 mn in 1Q2017, according to a regulatory filing (pdf)<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

EXCLUSIVE- Emaar offers EGP 100 mn to settle dispute with El Nasr Housing: The Public Enterprises Ministry will study an offer from Emaar Misr to pay EGP 100 mn to settle an outstanding dispute with the state-owned El Nasr Housing and Reconstruction over Emaar\u2019s Uptown Cairo project, sources told us this week. El Nasr, which […]<\/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":[8572],"tags":[72,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-630709","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"3ff25e1c-72cb-4a9d-aec1-e67eb5672c1f","order":"0","is_powered_by":true,"section_story_id":"2c2d6b12-1071-437b-b9a5-8afd8447c926","story_type":"1","photo_url":"","photo_position":"above","related_issue":[630697],"teaser":"","voice_url":""},"yoast_head":"\nEmaar offers EGP 100 mn to settle Uptown Cairo disputes with El Nasr Housing - 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\/2018\/04\/30\/emaar-offers-egp-100-mn-to-settle-uptown-cairo-disputes-with-el-nasr-housing\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Emaar offers EGP 100 mn to settle Uptown Cairo disputes with El Nasr Housing\" \/>\n<meta property=\"og:description\" content=\"EXCLUSIVE- Emaar offers EGP 100 mn to settle dispute with El Nasr Housing: The Public Enterprises Ministry will study an offer from Emaar Misr to pay EGP 100 mn to settle an outstanding dispute with the state-owned El Nasr Housing and Reconstruction over Emaar\u2019s Uptown Cairo project, sources told us this week. 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The companies are now in talks\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":593663,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/10\/07\/egypt-and-uaes-emaar-finally-settle-their-uptown-cairo-beef\/","url_meta":{"origin":630709,"position":3},"title":"Egypt and UAE\u2019s Emaar finally settle their Uptown Cairo beef","author":"enterpriseam admin","date":"7 October 2019","format":false,"excerpt":"DISPUTE WATCH- Egypt and UAE\u2019s Emaar have finally settled their beef over Uptown Cairo: Property developer Emaar Misr has signed a final settlement with the Egyptian government to resolve a two-year dispute with state-owned El Nasr Housing over the Emirati company\u2019s alleged failure to develop 3 mn sqm of land\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\/10\/1356.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":594825,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/09\/09\/emaar-misr-nears-resolution-on-el-nasr-dispute\/","url_meta":{"origin":630709,"position":4},"title":"Emaar Misr nears resolution on El Nasr dispute","author":"enterpriseam admin","date":"9 September 2019","format":false,"excerpt":"DISPUTE WATCH- Egypt and UAE\u2019s Emaar sign preliminary settlement agreement on El Nasr 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":629203,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/05\/24\/emaar-misr-el-nasr-reach-settlement-agreement-in-uptown-cairo-land-dispute\/","url_meta":{"origin":630709,"position":5},"title":"Emaar Misr, El Nasr reach settlement agreement in Uptown Cairo land dispute","author":"enterpriseam admin","date":"24 May 2018","format":false,"excerpt":"El Nasr Housing and Reconstruction appears to have accepted Emaar Misr\u2019s offer to settle their dispute over land for Uptown Cairo, Public Enterprises Minister Khaled Badawy told the press yesterday, Al Mal reports. Badawy said state-owned El Nasr would have lost the international arbitration case it filed against Emaar last\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":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/630709","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=630709"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/630709\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/630697"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=630709"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=630709"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=630709"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=630709"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=630709"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}