Egypt’s state-run Heliopolis Company for Housing and Development (HELI) would start building 44 residential building among New Heliopolis City project with total investments of 77 million Egyptian pounds (US$8million), its Deputy Chairman Khaled Almraci.
The new comprehensive-service buildings will be established in the fifth neighborhood, Almaraci noted.
New Heliopolis City is a suburb in north eastern Cairo that includes 23 neighborhoods. The city is carried out over 4.000 feddans and is characterized by outstanding city planning that divided the city into residential areas (Buildings-Vilas), and area of educational and recreational, commercial and administrative, medical, clubs and open areas and green areas, and areas of golf.
The company is inclined to develop its affiliated lands in participation with other investors rather than selling from its own lands portfolio.
Lately, Egypt-based property developer, SODIC has signed a partnership with Heliopolis Company for Housing and Development to establish a residential project worth 20 billion Egyptian pounds ($2.5 billion).