In Egypt, where more than two years of political and economic turmoil culminated in the ouster of President Mohamed Mursi almost three weeks ago, more people are deciding it’s a good time to buy a home.
Talaat Moustafa Group Holding should keep land on the outskirts of Cairo so the real estate developer can finish building housing units on the 33 million- square-meter site, a government-appointed legal committee recommended.
Egypt’s government lawyers will present within days to Prime Minister Ahmed Nazif a legal solution for Talaat Moustafa Group’s Madinaty land purchase that was deemed illegal by courts, Cabinet spokesman Magdy Rady said.
Talaat Moustafa Group Holding, Egypt’s biggest publicly traded property developer, fell to the lowest level in more than a month as a land ownership dispute drags on longer than some investors anticipated.
An Egyptian court jailed real- estate billionaire Hisham Talaat Moustafa for 15 years in a retrial for the murder of a Lebanese singer, the state-run Middle East News Agency reported today, citing the court.