Cairo – Mubasher: Utopia said it signed a contract with the New Urban Communities Authority (NUCA) in order to extend the time period of selling villas for the account of NUCA.
This agreement is supposed to end the current dispute between Utopia and NUCA, since it grants Utopia a new grace period to develop the land plots it obtained earlier from the authority.
Utopia saw an increase of 99.9% in net profits for Q1-16, reaching EGP 710,720.
