Arab Finance: The New Urban Communities Authority (NUCA) has signed a contract with the Saudi real estate firm Samla and Alm El Room Urban Development Company to swap roughly 949 feddans of land in Matrouh’s Alm El Room area for two plots of land in New Cairo, according to an official statement.
Under the agreement, the firm will take 97 feddans south of Madinaty, as well as 380.34 feddans south of the Katameya-Ain Sokhna road.
The signing came within the framework of the country’s efforts to resolve outstanding disputes for Arab and Foreign investors and promote foreign direct investments (FDIs), Assistant Minister of Housing Waleed Abbas said.