Cairo – Mubasher: Heliopolis Company for Housing and Development plans to promote a new residential project in Heliopolis with investments worth EGP 2 billion, deputy chairman Wael Youssef told Almasry Alyoum.
The firm is set to promote the project during October, which will be implemented within five years on a 100-acre area, Youssef added.
The real estate company aims to achieve total sales of EGP 1.2 billion during the current fiscal year through implementing 1,036 residential units in its projects in Sheraton and New Heliopolis.
The company achieved profits of EGP 348.8 million in the fiscal year ended June 2017, compared to EGP 400.6 million in the prior fiscal year.
By 11:59 am Cairo time, Heliopolis Housing’s stock rose 1.59% to EGP 28.8.
