Cairo - Mubasher: Misr El Gadida for Housing and Development has finalized a settlement with the New Urban Communities Authority (NUCA) over a 710,000-square-meter (m²) disputed area in New Heliopolis City.
Misr El Gadida for Housing made financial payments on account of the settlement in May 2025, according to a press release.
By paying the remaining EGP 96 million on 26 January 2026, the EGX-listed company settled a dispute dating back to 1995.
Misr El Gadida for Housing owns around 5,500 feddans in New Heliopolis, developed in partnership with major real estate firms. These include SODIC, G Development, AJAD, Madinet Masr, Zahraa El Maadi, Rock Developments, the National Asset Management Company for New Heliopolis, and Heliopolis Developers.
It is worth noting that New Heliopolis has become a key investment hub due to the growth of East Cairo and the New Administrative Capital (NAC).
Beyond New Heliopolis, the company is expanding its footprint with the acquisition of 750 feddans in the Capital Gardens area and a development agreement for a 52,000 m² plot in Mansoura City with the Al Safi Gypal Consortium.
It plans to scale its presence in East Cairo and beyond, aiming for sustainable revenue and profit growth, with financial results expected soon under Egyptian Exchange (EGX) rules.
