Egypt’s state-run Heliopolis Company for Housing and Development (HELI) is planning to establish an urban fully-fledged flagship in the country’s new capital city, an official in the company said Thursday.
Managing Director for Financial and Administrative Affairs Wael Youssef further told Amwal Al Ghad that the project will be implemented on a space of 300 feddans.
Youssef added that his company is currently negotiating with the state-run Maadi for Development and Construction and El Nasr Housing and Development to capture the project’s land plot in the new capital city.
“The firms target attaining a space of 500 feddans in the new capital city,” the Egyptian official noted.
Moreover, Youssef referred that Heliopolis Co. also seeking to execute a number of more projects, in partnership with the country’s real estate investment firms in order to carry out some major flagships in the local market.