By: Abdullah Bedeir

Cairo – Mubasher: Talaat Moustafa Group Holding (TMG Holding) currently considers obtaining a land plot in Nasser City in west Assiut through direct allocation to set up a comprehensive urban project, head of Nasser City Authority Yasser Abdullah told Mubasher.

Nasser City Authority offered TMG Holding a land plot covering an area of 280 feddans, but the real estate developer asked for a 500-feddan land instead, Abdullah added.

It is noteworthy that during the first half of 2019, TMG Holding logged a net profit of EGP 852.23 million, compared to EGP 774.2 million in the year-ago period, including minority shareholders’ rights. 

Previously, the assistant minister of housing said that the New Urban Communities Authority (NUCA) received about 700 direct land allocation requests in several governorates.