Heliopolis Housing inks assignment of right agreement with Export Development Bank

The agreement was signed after studying offers from several financial institutions for purchasing its financial rights portfolio

  
Image used for illustrative purpose. Heliopolis district in Cairo.

Image used for illustrative purpose. Heliopolis district in Cairo.

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Cairo - Mubasher: Heliopolis Company for Housing and Development signed an assignment of right agreement with Export Development Bank of Egypt.

The agreement was signed after studying offers from several financial institutions for purchasing its financial rights portfolio which includes a debt worth EGP 329.07 million, valued at EGP 283.865 million as of 17 June 2021, the company said in a bourse disclosure on Sunday.

During the first nine months of fiscal year (FY) 2020/2021, Heliopolis Company for Housing and Development reported net profits of EGP 16.25 million, down from EGP 379.59 million in the prior-year period.

Source: Mubasher

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