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20.09.201009:08:00UTC+00Egypt Government to protect investors right in TMG's madinaty land deal

News

  • Egypt's Finance Minister said that the government will protect investors exposed to an ongoing dispute over the sale of state land to real estate firm Talaat Moustafa Group (TMG).
  • He added that Madinaty issue will be fixed in next few days.

Background

  • Shares of property firm TMG tumbled last week after a court upheld a ruling that a housing ministry body broke the law by selling land for the company's landmark project without an auction.

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