Egypt’s state-owned HHD puts 32 land plots in Sheraton, Heliopolis up for sale

Heliopolis Housing and Development (HHD) is selling 32 land plots it owns in Sheraton, Heliopolis, through direct order agreements, the company said in an EGX disclosure (pdf). HHD’s Sahar Al Damati said in March the company is planning to sell off part of its land portfolio in the coming months to finance investment plans. The company sold a separate 1,980-feddan piece of land in Sheraton last week for EGP 99.3 mn. HHD is among the lineup of state-owned companies planning to sell additional stakes on the EGX as part of the state privatization program.