April 10, 2018 / 5:05 AM / 3 months ago

BRIEF-Orascom Development Holding To Enter Into Partnership With New Urban Communities Authority

April 10 (Reuters) - Orascom Development Holding AG :

* ADHOC: ORASCOM DEVELOPMENT HOLDING AG: THROUGH ITS LARGEST SUBSIDIARY IN EGYPT, ORASCOM DEVELOPMENT EGYPT (ODE), TO ENTER INTO A PARTNERSHIP WITH NEW URBAN COMMUNITIES AUTHORITY (NUCA) TO DEVELOP 1,000 FEDDAN (APPROX. 4.2 MILLION SQM) IN WEST CAIRO, M

* ODE WILL OWN 70% OF ORE'S ISSUED CAPITAL AND REMAINING 30% WILL BE OWNED BY SAMIH SAWIRIS

* FOLLOWING ITS ESTABLISHMENT, ORE WILL ENTER INTO REVENUE SHARE AGREEMENT WITH NUCA TO DEVELOP 1,000 FEDDAN IN WEST CAIRO Source text for Eikon: Further company coverage:

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