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Misr New Housing and Development Company announced the completion of a final settlement of its long-standing dispute with the New Urban Communities Authority (NUCA), affiliated with the Ministry of Housing, concerning excess shared land in New Heliopolis City amounting to approximately 710,000 square meters. The settlement marks the resolution of a dispute that has been ongoing since 1995.

Dr. Eng. Sameh El-Sayed, Managing Director and CEO of Misr New Housing, stated that the company, in cooperation with NUCA, successfully reached a final and legally binding agreement, resulting in an amicable resolution after more than 30 years.

He explained that the company made initial payments toward the settlement in May 2025, before completing the remaining financial obligation of EGP 96 million on January 26, 2026, thereby closing the dispute file entirely.

El-Sayed noted that the settlement reflects the combined efforts of the company’s management and NUCA, enhancing legal clarity regarding land ownership and supporting development and expansion plans in New Heliopolis City.

Misr New Housing owns a land portfolio of approximately 5,500 feddans in New Heliopolis, which is being developed in partnership with leading real estate developers, including SODIC, Middle East – G Development, AJAD, Madinet Masr, Zahraa El Maadi, Rock Developments, National Asset Management Company – New Heliopolis, and Heliopolis Developers.