By: Abdullah Bedeir
Cairo – Mubasher: Heliopolis Company for Housing and Development, a subsidiary of Holding company for Construction and Development (HCCD), launched a sealed-envelope auction to sell two vacant land plots, spanning over a combined area of 270 feddans in New Heliopolis City.
According to the auction specifications reviewed by Mubasher, the land plots with areas of 141.3 feddans and 128.7 feddans will be sold in part or in whole.
The land plots, dedicated for residential purposes, are planned to have a density of 150 people per feddan.
During the first quarter (Q1) of fiscal year 2020/2021, Heliopolis Housing incurred net losses of EGP 41.23 million, against net profits of EGP 29.39 million in the year-ago period.