June 27 (Reuters) – An Egyptian authority in charge of selling state land to developers has appealed an administrative court’s decision to scrap a contract that alloted real estate to a unit of Talaat Moustafa Group (TMGH.CA).
The New Urban Communities Authority said in a statement that July 17 had been set for a hearing aimed at blocking the ruling.
The administrative court ruled on June 22 to cancel the contract that alloted 8,000 feddans (8,304 hectares) of land to Talaat Moustafa for its flagship Medinaty project.
The company and the housing ministry said the project would not be affected by the ruling. [ID:nLDE65L0VP] (Writing by Alexander Dziadosz)