Cairo – Mubasher: Egypt-based Heliopolis Company for Housing and Development is holding negotiations with a local bank to secure an EGP 1 billion loan in the second half of 2018.
Discussions of the facility, that will be injected into completing the firm's real estate projects, reached to advanced phases, a source told Enterprise.
The source further noted that the Egyptian real estate developer has not decided yet to implement initial public offering (IPO) for an additional stake.
Heliopolis Housing last reported an 11.3% decrease in net profits to EGP 120.47 million for the first nine months ended in March 2018, compared to EGP 135.84 million in the year-ago period.
