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Heliopolis Housing mulls extending pre-qualification deadline

Heliopolis Housing mulls extending pre-qualification deadline
The company’s net profits hiked to EGP 376.3 million in FY18/19
Heliopolis Housing
HELI
-1.63% 9.64 -0.16

By: Abdullah Bedeir

Cairo – Mubasher: Heliopolis Company for Housing and Development currently considers extending the deadline for bids to prequalify for acquiring a 10% stake in the company along with management rights, sources told Mubasher.

As the deadline has passed, the company will likely announce a new deadline date in the coming period, sources noted.

Earlier in October, Heliopolis Housing invited equity firms and alliances comprised of equity firms or real estate development companies to prequalify for the management of the real estate firm. 

During fiscal year 2018/2019, the company’s net profits hiked to EGP 376.3 million from EGP 265.3 million a year earlier.