Cairo - Mubasher: Heliopolis Company for Housing and Development sold six commercial stores for EGP 4.8 million, said a bourse statement.
The sale process was done through a public auction held on 17 December, where the buyer paid in advance total amount of EGP 1.9 million.
The buyer will pay the remaining amount through monthly installments over 6 years at annual interest rate of 7%, or over 3 years without interest rate.
The real estate company saw net profits of EGP 51.3 million in the first quarter of the fiscal year 2015/16, compared with EGP 91.2 million a year earlier.
