Hyde Park Properties for Development Company is holding today press conference in order to announce the new strategic partnership between it and New Urban Communities Authority (NUCA), after the completion of final settlement with UAE,DAMAC properties group.
Hyde Park has emphasized that it is scheduled for Essam Abu Hamed-Hyde Park Properties for Development Chairman , Fathi El Sebaey, Chairman of Housing and Development Bank’s(HDB), Nabil Abbas, the Senior Vice-President of (NUCA) and Eng. Magued Sherif, CEO of Hyde Park to attend the conference.
HDB has announced yesterday 28/5 the signing of final settlement contract with DAMAC Properties after waiving its share in Hyde Park company which amounting to 17.9% in favor of NUCA.
The Egyptian government has signed in the last week the final settlement of investment contracts with UAE, DAMAC Properties in the Cabinet headquarters after two-years negotiations, the settlement agreement said DAMAC should pay EGP 145 million.
