Cairo – Mubasher: Heliopolis Company for Housing and Development has received a technical and financial offer for the development of three plots of land in New Heliopolis City in partnership with Madinet Masr Housing and Development.

The three plots have a total area of around 580 feddans, according to a bourse filing.

In January, Heliopolis Company signed a participation contract to develop 865 acres in New Heliopolis with the Middle East Real Estate and Tourism Development and Investment Company.

Madinet Masr posted a consolidated net profit after tax and non-controlling interest of EGP 2.12 billion in 2023, an annual leap from EGP 736.73 million.