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FinancialNews
12-11-18
Egyptian housing firm allocates USD42m in projects
(MENAFN) Egyptian Heliopolis Company for Housing and Development was announced to have allocated USD42 million of investments in the 2017/2018 fiscal year.
The state-owned company's chairman Hany El Deeb explained that the investments were aiming at the launch of several utility projects alongside its current initiatives.
The chairman unveiled: "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."
El Deeb further revealed the company and Egypt's property developer SODIC to have joined hands in the development of 655 feddans.
He added: "we are looking to launch a number of land plots in favour of real estate developers within the upcoming years."
MENAFN1211201800450000ID1097687675
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