Cairo – Mubasher: Talaat Moustafa Group Holding (TMG Holding) said Monday it has paid 10% of the value of the New Administrative Capital’s land as a first instalment worth EGP 440 million, according to a bourse filing.
TMG Holding announced on Sunday that its subsidiary Arab Company for Projects and Urban Development has bought a 500-feddan (acre) plot for EGP 4.4 billion to be paid in instalments over nine years.
The company plans to use the land plot in establishing an integrated urban project over a period of seven years.
