Cairo – Mubasher: Heliopolis Company for Housing and Development has signed a loan agreement with Banque Du Caire at a value of EGP 1.2 billion.

The facility will be used to carry out Heliopolis Housing’s future expansion plans over the coming years, according to a statement to the Egyptian Exchange (EGX).

Heliopolis Housing last reported an 88.6% drop in net profits to EGP 8.7 million in the three-month period ended September, versus EGP 76.8 million in the prior-year period.