Settlement reached between NUCA and Al-Hokair Group on Mall of Arabia II land
A settlement has been reached between NUCA and the Egyptian Malls Company (EMC), a subsidiary of Saudi Al-Hokair Group, on the land earmarked for Mall of Arabia phase II. Out of the 61-feddans of withdrawn land, 40 feddans will remain in the possession of NUCA, while 21 feddans will be returned to the company, to be developed under a new timeframe (which is yet to be decided upon). This followed long negotiations between the two parties, ending with EMC rejecting the new pricing proposed by NUCA for the 61-feddan plot. (Al Borsa)
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