Egypt’s Heliopolis Housing invests $42 mln in FY2017/18

Egypt’s Heliopolis Company for Housing and Development invested 748 million Egyptian pounds ($42 million) during the financial year 2017/2018, its chairman Hany El Deeb said on Saturday.

The 748 million pounds were directed to implement a bunch of major utilities works, besides its new ongoing projects, El Deeb further added.

“We are planning to launch a land plot on a space of 193 feddans in New Heliopolis City to establish various services, commercial, entertainment, and educational projects,” he said.

The state-owned company earlier participated with Egyptian property developer SODIC to develop 655 feddans, the chairman said.

“We are looking to launch a number of land plots in favour of real estate developers within the upcoming years,” El Deeb added.