Egypt’s HELI offers 32 buildings worth $22mn for sale

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Egypt’s leading construction company, Heliopolis Company for Housing and Development (HELI) is aiming to offer 32 residential buildings for sale in Sheraton and Nozahat Al-Obour City with total cost of 200 million Egyptian Pounds (US$22mn), its managing director khaled Marasi said on Tuesday.

He told Amwal Al Ghad that there are 18 new buildings to be offered in Sheraton, besides, number of modern villas with total cost of 40 million Egyptian pounds.

He added that his company has developed those buildings on its own plots of lands, noting that there is specified plan to finish developing the housing projects implemented with the cities owned by the company.

The company is currently carrying out 56 residential buildings in New Heliopolis City, located in New Heliopolis district on a land owned by Heliopolis Company. The new city is set to encompass more than 8,600units with expected investments returns of 10 billion Egyptian pounds.

Moreover, HELI is responsible for utilising the whole project with total cost that may exceed one billion Egyptian pounds.