Heliopolis Housing launching new housing project at New Heliopolis

Heliopolis Company for Housing and Development says it is launching a new housing project on 100 feddans at New Heliopolis, Reuters reports. The project will take five years and be developed over three phases at a cost of EGP 2 bn and an expected revenue of EGP 4 bn. Heliopolis Housing says it is implementing a strategy change “to develop land and construct residential, commercial projects instead of direct sale of land” and could partner with other real estate investment companies in bid projects.