Cairo – Mubasher: Heliopolis Company for Housing and Development (HHD) announced extending the deadline for submitting bids to acquire a 10% stake in the company with management rights to 21 February.
Any other developments regarding this matter will be disclosed, the company said in a filing to the Egyptian Exchange (EGX) on Wednesday.
Earlier in January, the state-owned property developer decided to extend the period of its anticipated strategic partnership contract from seven to ten years.
In August 2019, Heliopolis Housing’s extraordinary general meeting (EGM) approved handing the management of the company to a real estate development or an investment company with a 10% stake in the company, as part of its plan to list up to 25% of its shares owned by the Holding Company for Construction and Development on the EGX.
