Qatari Diar to resume Egypt CityGate project after a four-year pause

SourceArab News
SectorEconomy
CountryQatar

Qatari Diar to resume Egypt CityGate project after a four-year pause Qatari Diar to resume Egypt CityGate project after a four-year pause Qatari Diar to resume Egypt CityGate project after a four-year pause Buildings are seen on a coast line in Doha, Qatar, June 15, 2017. (REUTERS) Short Url Follow @arabnews Qatari Diar to resume Egypt CityGate project after a four-year pause Qatari Diar owns several projects in Egypt, most notably in New Cairo, the resort of Sharm El-Sheikh and in Hurghada Updated 12 January 2021 Follow @arabnews CAIRO: Nearly a week after the Gulf reconciliation with Qatar, the New Urban Communities Authority (NUCA) agreed work could resume on the CityGate project in New Cairo, owned by the Qatari real estate company Qatari Diar, after a four-year pause. According to Egyptian newspaper Al-Shorouk, the company has obtained approval from the authority to work on the CityGate project, which has been suspended since 2016 due to a dispute between it and NUCA. East Gate, owner of the development and a Qatari Diar subsidiary, has had its request for a license to resume working on the project approved by the authority, following a court ruling that NUCA was not entitled to ask for fees of EGP 1.379 billion ($88.11 million). The Qatari company is...read more...