Egypt Panel Says Talaat Moustafa Contract Invalid, Mal Reports

An Egyptian panel of judges recommended the annulment of a revised contract that allowed the government to sell a plot of land to Talaat Moustafa Group Holding for its Madinaty project, Al Mal reported.

Egypt’s Administrative Court will convene on Nov. 7 to examine the recommendation, the Cairo-based daily said, citing the panel’s report.

To contact the reporter on this story: Ahmed A. Namatalla in Cairo at anamatalla@bloomberg.net

To contact the editor responsible for this story: Claudia Maedler at cmaedler@bloomberg.net