Cairo – Mubasher: Heliopolis Company for Housing and Development on Tuesday approved an EGP 100 million leasing agreement with Global Leasing Company (GLC) to finance facilities projects.
The leasing agreement will finance a triple treatment plant project and the sewage network in New Heliopolis, according to the company’s statement to the Egyptian Exchange (EGX).
The company added that the offer from GLC is good in terms of interest rates and a repayment period of seven years on quarterly instalments.
Heliopolis Housing’s net profits fell 51.6% to EGP 135.8 million in the nine months ended in March 2017, compared to EGP 280.4 million in the same period last year.
