Cairo – Mubasher: Heliopolis Company for Housing and Development (HELI) will offer 44 land plots in Sheraton in an auction on 2 May, the managing director of the Cairo-based real estate firm said.

The 44 plots will be located on the main streets, and some of them are located in New Heliopolis in front of the electric train, Sahar Al Damati said. 

Al Damati said that the company has already started offering plots for sale after obtaining the board’s approval, including a 100-feddan land in Heliopark, the extension of Suez Road, in addition to other 190 feddans in Sheraton.

The Egyptian real estate developer is working on a financial restructuring to manage to sell 3% of its land portfolio to finance other projects, she noted.

The company is currently studying increasing its capital and will send the decision to the board for approval in the near future.