Heliopolis Housing mulls launching PPP project in New Cairo

Egypt’s state-owned Heliopolis Company for Housing and Development says it studies launching a private-public partnership (PPP) flagship in New Heliopolis City in New Cairo within the next period.

The residential and service flagship will be launched over 140 feddans as part of the company’s expansion scheme to develop New Heliopolis’ land plots, said its managing director for financial and administrative affairs Wael Youssef on Monday.

“New Heliopolis include a number of new residential projects, varying between housing buildings and villas,” Youssef further told Amwal Al Ghad.

“The company expects to hold negotiations with a bunch of property developers to reach an agreement on the targeted partnership project,” he added.

During the last period, the Egyptian official said that his company pumped one billion Egyptian pounds ($55.7 million) into executing utilities works in order to expand in the urban development projects in New Heliopolis City.