Arab Finance: Egypt’s New Urban Communities Authority (NUCA) has approved providing the Saudi Dallah Albaraka Group a 500-feddan land plot in East Cairo in exchange for the land that was withdrawn from the group in the North Coast through land swap, two sources in the know told Asharq Business.

The Saudi firm will obtain the land plot in exchange for waiving a 4-million-square-meter plot in Marsa Matrouh, one source said.

The other source revealed that the Dallah Albaraka plans to develop the land plot, in partnership with Egyptian real estate developers, to implement two integrated residential projects in return for a share in the revenues.

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