Egypt's HHD expected to announce its development plan within days: sources

The plan aims to maximize the value of the company

  
Image used for illustrative purpose. Labourers work at a construction site of residential buildings in El Katameya district of New Cairo March 30, 2013.

Image used for illustrative purpose. Labourers work at a construction site of residential buildings in El Katameya district of New Cairo March 30, 2013.

REUTERS/Amr Dalsh

Heliopolis Company for Housing and Development is expected to reveal its development plan within days, which is being developed by the new board of directors, as soon as it receives the approval of the Public Enterprises Sector Ministry, informed sources told Daily News Egypt.

The plan aims to maximize the value of the company, and make good use of the HHD land portfolio. The new plan includes clear mechanisms to develop the company using self-resources, in addition to partnership agreements with some developers, similar to the recent agreement with SODIC to develop 650 feddan in New Heliopolis.

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