HHD receives Heliopark offer: Heliopolis Housing and Development’s (HHD) board of directors has agreed to study an offer submitted for the Heliopark project, the company said in a filing (pdf) t o the EGX, without providing further details.

HHD is on the hunt for a new co-developer: The state-owned, EGX-listed company put the New Cairo project back out to tender after scrapping a partnership agreement with Mountain View earlier this year, citing the current economic conditions and rising land valuations.

Gulf investors have apparently shown an interest: Emirati real estate giant Aldar Properties reportedly expressed interest earlier this year in co-developing the project. Saudi real estate developer Alameriah has also been rumored to be offering to acquire 70% of the company for USD 400 mn. HHD denied receiving any offers at the time.

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