Egyptian shares climbed the most in six weeks, led by real-estate companies, after the government settled land disputes with United Arab Emirates developers.
The benchmark EGX 30 Index climbed 2.4 percent to 3,735.64 at the 2:30 p.m. close in Cairo, the biggest daily advance since Nov. 29. Talaat Moustafa Group Holding, the country’s largest publicly traded developer, surged 6.1 percent. Six of October Development & Investment Co., also known as Sodic, rose for the first time in five days.
An Egyptian government commission approved the settlement of disputes with Dubai’s Damac Properties Co. and Al-Futtaim Group, Fayza Aboulnaga, minister of planning and international cooperation, said Jan. 7. Governments serving under former President Hosni Mubarak sold the two companies land without holding a public auction as required by law, which prompted courts to annul the sales after his ouster in February.
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