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Egypt Property Giants Inch Closer to Link-up Deal

Buildings in Cairo. 

Buildings in Cairo. 

Photographer: Shawn Baldwin

Egypt’s Medinet Nasr Housing and Six of October Development & Investment Co. have reached an initial understanding on a tie-up that would create one of the biggest private property developers in the country.

The two companies have yet to decide whether the deal will be an acquisition or a merger that may involve a share swap, three people with knowledge of the matter said, asking not to be identified as the information is private.