Cairo – Mubasher: The board of Heliopolis Company for Housing and Development approved the investment plan for the fiscal year 2016/17.
The value of the year-ahead plan is set at EGP500 million for residential and land development, said the company in a bourse filing.
The company has established projects worth EGP331.8 million in New Heliopolis, Al Oubor, Sheraton area, and other areas.
Earlier, the company announced it plans to reestablish the fourth district in its project New Heliopolis at total cost of EGP 400 million.
In a related development, Heliopolis Housing said it signed a contract with Sixth of October for Development (SODIC) to develop real estate project, with expected returns of EGP 30.35 billion.
