Cairo – Mubasher: Heliopolis Housing said it will complete the master plan of its joint project with SODIC by March 2017.
Heliopolis Housing stated that SODIC has asked to postpone the preparation of the project’s master plan for 10 weeks, according to a bourse filling.
The postponing of finishing the master plan won’t lead to any violation of the financial obligations between SODIC and Heliopolis Housing, the company added.
In April, SODIC announced being awarded a land plot from Heliopolis Company for Housing based on a landscape partnership scheme, to establish a residential and commercial project on over 655 acres.
SODIC will receive 70% of the revenues of the project's residential units, while Heliopolis Housing will be entitled to the remaining 30%.
As for the commercial units, SODIC will receive 69.8% of revenues, while Heliopolis Housing will receive 30.2%.
