Cairo – Mubasher: Heliopolis Company for Housing and Development postponed the sealed-envelope auction to sell two lands plots dedicated for residential use in New Heliopolis City to 28 February.

The auction, originally scheduled to be held on Tuesday, 16 February, has been delayed as bidders requested more time to complete the required documents, the company said in a bourse disclosure on Tuesday.

Earlier, the company announced the launch of an auction to sell two vacant land plots over an area of 270 feddans in New Heliopolis City.

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.