By: Abdullah Bedeir

Cairo – Mubasher: A real estate company has submitted a request to Heliopolis Company for Housing and Development to buy a 250-feddan land plot in New Heliopolis, a source told Mubasher.

The company aims to obtain the land plot to build a comprehensive urban project, comprising residential units, a hotel, a school, a university, and a hospital, according to the source.

Earlier this week, an informed source told Mubasher that Heliopolis Housing is in negotiations with several companies that submitted offers to purchase a 34-feddan land and another 16-feddan land in New Heliopolis in El Shorouk City.

It is noteworthy that during the first quarter of fiscal year 2019/2020, Heliopolis Housing logged a net profit of EGP 29.39 million, compared to EGP 8.7 million in the corresponding period a year earlier, according to the company’s unaudited financial results.