Cairo – Mubasher: Heliopolis Housing said its board of directors decided to appoint Mimar Engineering Consultancy to advise on the architects works related to both its project Granada city as well as the administrative building.

The real estate firm currently studies the possibility of converting Granada city to a world cultural hub at estimated cost of EGP 12 million.

Last June, the company approved turning its administrative building from fixed assets to current assets, as it eyes this building as real estate investment.

Heliopolis Housing said it targets net profits of EGP 300.14 million according to the estimated budget of FY 2016/17, compared with EGP 204.76 million at the estimated budget of the previous year.