Heliopolis Company to build 500 villas in New Heliopolis city in 2016

Egypt’s state-run Heliopolis Company for Housing and Development (HELI) aims to start developing the fourth neighborhood in New Heliopolis city at the end of 2016 with investments, its Chairman and Managing Director Hani Al Dib said Monday.

New Heliopolis fourth neighborhood includes building 500 villas of various spaces with investments worth one billion Egyptian pounds (US$112.6 million), Al Dib noted.

He added that his company would carry out the construction works of the fourth neighborhood through four stages to be delivered in four years. HELI is responsible for implementing and promoting the project during the upcoming years.

Moreover, HELI is to put the construction of the residential villas out to tender  that would open the door for the public contracting companies to expand their volume of business during the  upcoming years.