State Council Suspends NUCA’s Challenge Re-Eastown

SODIC (“Sixth of October Development & Investment Company”) (OCDI.CA) has obtained an injunction from the State Council suspending the New Urban Communities Authority (NUCA)’s latest challenge – on the 4th of November 2013 – to terminate the contract of Eastown (plot of land in New Cairo, 0.86 mln sqm).

Eastown is owned by SOREAL – a 100% SODIC owned company – “the Company” and is paid in full.

The injunction confirms once again the Company’s ownership and right to continue all the works that had already started on site.