By: Abdullah Bedeir

Cairo – Mubasher: The bid requirements for the management of Heliopolis Company for Housing and Development are under preparation.

The bid requirements are set to be released soon, Heliopolis Company’s managing director, Sahar Al Damatty, told Mubasher.

The winner of the management contract should fulfil a group of requirements including having a good experience and financial solvency that enables it to buy 10% of the company’s shares, Al Damatty added.

Heliopolis Company reported a 42% year-on-year profit growth during fiscal year 2018/2019, recording EGP 376.3 million.

Translated by: Muhammad Abdul-Wakeel