TMG in talks with NUCA to develop 5,000 acres in new Cairo
The group plans to develop a project that includes residential, commercial and entertainment activities,
Labourers work in front of newly constructed houses and villas in the Fifth Settlement district of New Cairo March 30, 2013.
REUTERS/Amr Abdallah Dalsh
By Staff Writer, Arab Finance
ArabFinance: Talaat Mustafa Holding Group (TMG) (TMGH) is in talks with the New Urban Communities Authority to develop an area of 5,000 acres in the city of Capital Gardens city, governmental sources told Alborsaanews website.
The group plans to develop a project that includes residential, commercial and entertainment activities, sources said, noting that the land is located in a privileged area in the city.
The government plans to establish a city, Capital Gardens, on an area of about 29,000 acres, which is an extension of Badr City and is located 10 minutes from the New Administrative Capital.
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