Cairo – Mubasher: Heliopolis Company for Housing and Development (HHD) announced that no offers were received on Sunday, 23 February, for a 10% stake in the state-owned company with management rights.
“An alternative plan has been put in place and will be announced in the short run,” the real estate company said in a statement to the Egyptian Exchange (EGX) on Monday.
Previously, the deadline for bid submission was extended to 23 February from 21 January.
Six of October Development and Investment (SODIC), BPE Partners, Palm Hills Developments, and the Saudi Dar Al Arkan purchased the request for proposal (RFP) document.
In August 2019, Heliopolis Housing’s shareholders approved handing over 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.
