CAIRO, April 6 Egypt has settled a dispute with
property developer SODIC over one of the company's
main projects after the firm accepted to pay $129.08 million in
instalments over around seven years, the Egyptian investment
minister said on Sunday.
"The dispute is closed," Mounir Fakhry Abdel Nour told
reporters about the state's legal dispute with SODIC, one of
Egypt's biggest real estate companies, on its Eastown scheme in
New Cairo, a development of offices, shops and homes twice the
size of London's 97-acre Canary Wharf district.
"They found a solution and it was approved by the council of
ministers last Thursday," he said.
($1 = 6.9724 Egyptian Pounds)
(Reporting by Shadia Nasralla; Writing by Yasmine Saleh;
Editing by Anthony Barker)