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Media Production City increases investments of Magic Land usufruct contract

Media Production City increases investments of Magic Land usufruct contract

ArabFinance: Egyptian Media Production City's (EMPC) (MPRC) board approved on Sunday on the attachment of Magic Land’s usufruct contract, as per a bourse filing.

Under the contract, the investments’ value would increase throughout the contract’s duration (30 years) to $55.9 million, up from $30 million.

Moreover, total land plot granted for AlHokair Co for Investments and Development as per the usufruct would be 281,585 square meters instead of 151,170 square meters.

In February 2018, the Media Production City announced selling a usufruct of Magic Land for AlHokair Co for Investments and Development.

 

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