Egypt's Heliopolis Housing sells three land plots for $7.8mln

The company originally offered six land plots for sale


Cairo –   Heliopolis Company for Housing and Development (HHD) announced the sale of three land plots in New Heliopolis City in a sealed-bid public auction for EGP 122 million.

A seven-feddan land in New Heliopolis City was sold for EGP 109 million and two land plots in Sheraton was sold for EGP 13 million, the company said in a bourse statement on Sunday.

Heliopolis Housing originally offered six land plots for sale in a sealed-bid public auction held on 5 March.

It is worth mentioning that during the first half of fiscal year 2019/2020, the company’s net profit surged to EGP 351.34 million from EGP 48.6 million in the corresponding period a year earlier.

Source: Mubasher

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