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Egypt’s SODIC settles with government over Eastown project

Reuters – Property developer SODIC has signed a dispute settlement with Egypt’s government, agreeing to pay EGP 900m ($129m) over seven years after a revaluation of its Eastown scheme in Cairo, the company said on Tuesday. Egypt’s investment minister Mounir Fakhry Abdel Nour said on 6 April that SODIC had revalued land bought from the …

Daily News Egypt

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