Heliopolis Housing to begin auctioning land in Sheraton next month

Heliopolis Company for Housing and Development will begin auctioning 44 of its land plots in Sheraton, Heliopolis on 2 May, Managing Director for Financial Affairs Sahar El Damati told reporters, according to the local press. El Damat did not offer further details on the expected profits from the auction. The company had said in a press release last week that the auction would be postponed due to recent government amendments on building regulations. El Damaty had said earlier that the company’s planned 32.25% stake sale on the EGX this year would follow planned land plot sales.