Egypt Heliopolis Housing sees new property flagship at year-end

Egyptian state-run Heliopolis Company for Housing and Development expects to launch a new residential flagship in New Heliopolis City flagship in Eastern Cairo before the end of the year.

With investments exceeding two billion Egyptian pounds ($111.4 million), the new project will be executed over 100 feddans in three phases within a five-year timeframe, said Heliopolis Co.’s chairman Hany El Deeb on Wednesday.

“The company will start marketing the project and execute the construction works after attaining the ministerial approval,” El Deeb told Amwal Al Ghad.

Heliopolis Co. is seeking to develop a bunch of land plots in New Heliopolis City within the next year as part of the company’s plan to launch various residential, educational, and commercial projects in partnership with a number of developers, he added.