TDA signs contracts for c20% of land offered in 2016
The Tourism Development Authority (TDA) announced that it had inked contracts for 16.5mn sqm, out of a 80mn sqm of land plots offered to investors in 2016. According to Serag Eldin Saad, Authority Head, the TDA is currently awaiting Parliament passing the Investment Act, to launch land plots in different areas. Saad has also confirmed that EGP payments would be allowed only for new launches, while due payments from older sales will still be in USD.
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