Cairo – Mubasher: Heliopolis Company for Housing and Development (HHD) announced an alternative plan for management rights will be announced soon,  according to a bourse statement on Monday.

A new plan to develop the company will be adopted by a new board of directors upon being formed, following the resignation of the current board.

The company’s chairman and board members decided to submit their resignation to the chairman of Holding Company for Construction and Development (HCCD).

Previously, the state-owned company revealed the cancellation of plans to sell a stake in the company to a private investor with management rights.