Negotiations are underway between Mostakbal for Urban Development and a number of Arab investors to develop five non-residential projects, according to Essam Nassef, company chairman. A non-binding agreement had been signed with a group of Gulf, European and US investors to develop a medical city over a 500 feddan land plot. The agreement will expire within six months, after which a decision will be made, whether to go ahead with the project or withdraw. Other projects include shopping malls. The company plans to invest more than cEGP600 million in infrastructure projects at the city in 2016. (El Borsa)