Heliopolis Company for Housing and Development has postponed an auction to sell a land plot in Sheraton, Heliopolis in light of recent government amendments to the building regulations, the company said in a press release (pdf). The amendments include allowing the company to build up to six floors, build two basements instead of one, and use the land plot for commercial or administrative activities (as opposed to only religious). Managing director for financial affairs Sahar El Damaty said last month the company was planning to offer a 32.25% stake on the EGX by mid-2019. She said earlier this week that the stake sale would follow planned land plot sales.

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