NUCA plans sale of Madinaty, Rehab units to locals
The New Urban Communities Authority (NUCA) has prepared the tender documents for the sale of 5,400 units in Madinaty and Rehab to residences, after demand on units from Egyptians abroad had fallen short of expectations. NUCA aims to collect EGP3.2bn in sales proceeds from the sale of the units, with prices set at EGP5,500/sqm for Madinaty and EGP7,500 for Rehab. The tender document will be made available to the public in October. The down-payment is set at 50%, with the balance to be collected over three annual installments. Discounts will be offered on bulk sales. (Al Borsa) TMG Holding: EGP5.46 as of 26 September 2016, Rating: Buy, FV: EGP10.25 per share, MCap: USD1,269mn, TMGH EY / TMGH.CA
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