Heliopolis Company for Housing and Development (Heliopolis Housing) said it auctioned 20 land plots in a public auction on Thursday at an overall value of EGP 28.842 million.
According to the company, the land sale is aimed at generating liquidity needed to finance current housing projects.
The company had posted EGP 183.8 million net profit for FY13/14, with 35.5% increase compared with EGP 135.5 million a year earlier.