Egypt's golf chief Omar Hisham Talaat elected to Arab Golf Federation board    Egypt extends Eni's oil and gas concession in Suez Gulf, Nile Delta to 2040    Egypt, India explore joint investments in gas, mining, petrochemicals    Egypt launches National Strategy for Rare Diseases at PHDC'25    Egyptian pound inches up against dollar in early Thursday trade    Singapore's Destiny Energy to invest $210m in Egypt to produce 100,000 tonnes of green ammonia annually    Egypt's FM discusses Gaza, Libya, Sudan at Turkey's SETA foundation    UN warns of 'systematic atrocities,' deepening humanitarian catastrophe in Sudan    Egypt's Al-Sisi ratifies new criminal procedures law after parliament amends it    Egypt launches 3rd World Conference on Population, Health and Human Development    Cowardly attacks will not weaken Pakistan's resolve to fight terrorism, says FM    Egypt's TMG 9-month profit jumps 70% on record SouthMed sales    Egypt adds trachoma elimination to health success track record: WHO    Egypt, Latvia sign healthcare MoU during PHDC'25    Egypt, India explore cooperation in high-tech pharmaceutical manufacturing, health investments    Egypt, Sudan, UN convene to ramp up humanitarian aid in Sudan    Egypt releases 2023 State of Environment Report    Egyptians vote in 1st stage of lower house of parliament elections    Grand Egyptian Museum welcomes over 12,000 visitors on seventh day    Sisi meets Russian security chief to discuss Gaza ceasefire, trade, nuclear projects    Egypt repatriates 36 smuggled ancient artefacts from the US    Grand Egyptian Museum attracts 18k visitors on first public opening day    'Royalty on the Nile': Grand Ball of Monte-Carlo comes to Cairo    VS-FILM Festival for Very Short Films Ignites El Sokhna    Egypt's cultural palaces authority launches nationwide arts and culture events    Egypt launches Red Sea Open to boost tourism, international profile    Qatar to activate Egypt investment package with Matrouh deal in days: Cabinet    Omar Hisham Talaat: Media partnership with 'On Sports' key to promoting Egyptian golf tourism    Sisi expands national support fund to include diplomats who died on duty    Madinaty Golf Club to host 104th Egyptian Open    Egypt's PM reviews efforts to remove Nile River encroachments    Al-Sisi: Cairo to host Gaza reconstruction conference in November    Egypt will never relinquish historical Nile water rights, PM says    Egypt resolves dispute between top African sports bodies ahead of 2027 African Games    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Russia says it's in sync with US, China, Pakistan on Taliban    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Hyde Park to offer new tenders to speed up construction process
The company says it has received all the necessary licences for its project and will take legal action against those who aim to affect its interests
Hamada Ismail Published in Daily News Egypt on 01 - 02 - 2017

Hyde Park Properties for Development announced it would offer new tenders to speed up the construction and completion of its project's units.
Mohamed Mustafa Hamouda, legal adviser for Hyde Park, told Daily News Egypt that the company has taken legal action against a number of people who tried to harm the interests of the company. He added that the company will file a lawsuit against another group of those people in the coming period.
The company said, in a statement issued a few days ago, that the company was recently exposed to a defamatory campaign via social networks by some people who claim that the company did not fulfil its obligations to its customers, asserting that the company is committed to all its contractual obligations.
Hamouda added that some people claimed that some customers who bought units from Hyde Park were negatively affected when the company affiliated itself with Dubai's DAMAC Properties which sold the units without obtaining all the required licences and delayed the construction. He noted that after the ownership of the company had been transferred to Egyptian companies, Hyde Park obtained all the required licences, and pledged to commit to its obligations with the customers.
According to the statement, the company has filed a report No. 567 against some people who incited a protest in front of the company's headquarters located in Fifth Settlement. The report was referred to the public prosecutor for investigation.
Hamouda claimed that such tendentious campaigns are intended to defame the company, in favour of personal interests in cooperation with some public employees.
Hyde Park Properties for Development was initially established under the name DAMAC Properties in 2007. Then in 2009, the Housing and Development Bank (HDB) and the Egyptian Arab Land Bank acquired 60% of the shares. Later in 2011, the company's name was changed to Hyde Park Properties for Development after the two banks acquired 82.22% of the total shares. This was compounded by an increase in the company's capital, and in May 2013, the New Urban Communities Authority (NUCA) presented itself as the strategic partner instead of DAMAC.
Hyde Park project was established on an area of 6m sqm in New Cairo, while the company has launched the Park Corner phase—a residential project, which was developed by a British company with new and varied products, on an area of 533,000 sqm. The new phase includes 205 villas and twin houses, 1,400 apartments, and 300 duplex units, with investments of EGP 5bn.

Clic here to read the story from its source.