{"id":575417,"date":"2020-10-14T04:16:21","date_gmt":"2020-10-14T04:16:21","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2020\/10\/14\/hccd-kicks-off-restructuring-plans-to-streamline-operations\/"},"modified":"2020-10-14T04:16:21","modified_gmt":"2020-10-14T04:16:21","slug":"hccd-kicks-off-restructuring-plans-to-streamline-operations","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2020\/10\/14\/hccd-kicks-off-restructuring-plans-to-streamline-operations\/","title":{"rendered":"HCCD kicks off restructuring plans to streamline operations"},"content":{"rendered":"<p><strong>M&A WATCH- The new, slimmer HCCD:<\/strong> The state-owned Holding Company for Construction and Development (HCCD) is merging 11 of its subsidiary companies into just five in a bid to streamline the company and make it more efficient, Chairman Hesham Aboul Atta tells Enterprise. The company has completed the merger of six of its subsidiaries into just two and will merge six others into three by next week, he said. Combining the companies \u2014 many of which operate in the same sectors and have overlapping operations \u2014 will improve HCCD\u2019s efficiency and profitability, he said.<\/p>\n<p><strong>The breakdown:<\/strong><\/p>\n<ul>\n<li><strong>A construction arm<\/strong> will be made of Cairo Contracting and Real Estate Investment, General Construction Co. Rolin, and the General Egyptian Buildings Co.;<\/li>\n<li><strong>A contracting and building materials arm<\/strong> will be composed of Atlas General Contracting and Real Estate Investments, Air Condition & Elevator Works Co., Misr Concrete Development Co., and the Egyptian Contracting Co. El Abd;<\/li>\n<li><strong>An electricity arm<\/strong> will see the merger of High Dam Electrical and Industrial Projects Co. (Hideleco) and the General Company For Electrical Projects (Eleject);<\/li>\n<li><strong>An infrastructure arm<\/strong> will consist of El Nasr Building and Construction Co. (Egyco) and Ramses Agricultural Projects Management;<\/li>\n<li><strong>A major construction arm<\/strong> will be made of Nasr General Contracting Co. along with the Arab Co. for Foundations (Vibro).<\/li>\n<\/ul>\n<p><strong>On a related note: HCCD\u2019s subsidiary Heliopolis Housing and Development (HDD) is not seeking a loan<\/strong> for the first year in its five-year development strategy that was <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0f5d0471-dee4-4414-90f4-098e7257f873\">unveiled earlier this week,<\/a> Aboul Atta said. Instead, the company is in negotiations with a number of banks to secure funding for its pipeline of projects without adding to its debt burden, he said, declining to explain how the transaction might work until an agreement is reached.<\/p>\n<p><strong>HHD\u2019s strategy will see the company develop EGP 100 bn of assets<\/strong> through partnerships with private developers after <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/40338f45-ce01-4357-8342-fde8ee90c5bf\">scrapping plans<\/a>to sell a stake with management rights earlier this year. The strategy focuses on putting the development of the first phases of the New Heliopolis and Heliopark projects on track before the end of 2021, before raising the company\u2019s capital by as much as EGP 1.2 bn to finance later phases.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>M&#038;A WATCH- The new, slimmer HCCD: The state-owned Holding Company for Construction and Development (HCCD) is merging 11 of its subsidiary companies into just five in a bid to streamline the company and make it more efficient, Chairman Hesham Aboul Atta tells Enterprise. The company has completed the merger of six of its subsidiaries into [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":575418,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8572],"tags":[244,72,890,5175,157,7128,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-575417","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round","tag-electricity","tag-enterpriseam","tag-hassan-allam-holding","tag-hccd","tag-heliopolis-housing-and-development","tag-ma-watch","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"e335002a-f73d-4cfb-9046-dc9e2cfb4f36","is_powered_by":true,"section_story_id":"307c82aa-8655-4348-9cdd-bc0c68450f60","story_type":"1","photo_url":"https:\/\/ent.news\/2020\/10\/146.jpg","photo_position":"above","related_issue":[575405],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>HCCD kicks off restructuring plans to streamline operations - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2020\/10\/14\/hccd-kicks-off-restructuring-plans-to-streamline-operations\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"HCCD kicks off restructuring plans to streamline operations\" \/>\n<meta property=\"og:description\" content=\"M&amp;A WATCH- The new, slimmer HCCD: The state-owned Holding Company for Construction and Development (HCCD) is merging 11 of its subsidiary companies into just five in a bid to streamline the company and make it more efficient, Chairman Hesham Aboul Atta tells Enterprise. The company has completed the merger of six of its subsidiaries into [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2020\/10\/14\/hccd-kicks-off-restructuring-plans-to-streamline-operations\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2020-10-14T04:16:21+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2020\/10\/146.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/10\/14\/hccd-kicks-off-restructuring-plans-to-streamline-operations\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/10\/14\/hccd-kicks-off-restructuring-plans-to-streamline-operations\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"HCCD kicks off restructuring plans to streamline operations\",\"datePublished\":\"2020-10-14T04:16:21+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/10\/14\/hccd-kicks-off-restructuring-plans-to-streamline-operations\/\"},\"wordCount\":365,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/10\/14\/hccd-kicks-off-restructuring-plans-to-streamline-operations\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2020\/10\/146.jpg?fit=%2C&ssl=1\",\"keywords\":[\"electricity\",\"EnterpriseAM\",\"Hassan Allam Holding\",\"HCCD\",\"Heliopolis Housing and Development\",\"M&amp;A Watch\",\"SPEED ROUND\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/10\/14\/hccd-kicks-off-restructuring-plans-to-streamline-operations\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2020\/10\/14\/hccd-kicks-off-restructuring-plans-to-streamline-operations\/\",\"name\":\"HCCD kicks off restructuring plans to streamline operations - 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Odin, along with\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":572388,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/06\/23\/egypt-looks-to-reach-financial-settlement-with-saudi-investor-over-omar-effendi-sale-dispute\/","url_meta":{"origin":575417,"position":1},"title":"Egypt looks to reach financial settlement with Saudi investor over Omar Effendi sale dispute","author":"enterpriseam admin","date":"23 June 2020","format":false,"excerpt":"DISPUTE WATCH- Gov\u2019t looks to reach financial settlement with Saudi investor over Omar Effendi sale dispute: The Holding Company for Construction and Development (HCCD) has proposed a financial settlement to Saudi\u2019s Anwal United Trading Company in its dispute over the sale of HCCD subsidiary Omar Effendi, HCCD Chairman Hisham Aboul\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":578866,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/01\/17\/hccd-reportedly-in-talks-to-sell-land-to-gulf-investors\/","url_meta":{"origin":575417,"position":2},"title":"HCCD reportedly in talks to sell land to Gulf investors","author":"enterpriseam admin","date":"17 January 2023","format":false,"excerpt":"Gulf investors are reportedly interested in HCCD\u2019s land bank, assets: The state-owned parent of Heliopolis Housing is in talks with Gulf investors to sell off land and other assets, Bloomberg Asharq reported Sunday, citing two sources familiar with the matter. The investors are negotiating with the Holding Company for Construction\u2026","rel":"","context":"In &quot;M&amp;A WATCH&quot;","block_context":{"text":"M&amp;A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/1\/271.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":549033,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/08\/31\/could-the-alex-medical-acquisition-finally-go-through\/","url_meta":{"origin":575417,"position":3},"title":"Could the Alex Medical acquisition finally go through?","author":"enterpriseam admin","date":"31 August 2022","format":false,"excerpt":"Alex Medical is back in play: The Financial Regulatory Authority (FRA) has approved a mandatory tender offer (MTO) from the Tawasol Holdings-LimeVest consortium to purchase up to 74% of Alexandria Medical Services, bringing back to life a play for the healthcare provider that we\u2019d heard nothing on since last summer.\u2026","rel":"","context":"In &quot;M&amp;A WATCH&quot;","block_context":{"text":"M&amp;A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/8\/448.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":570602,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/04\/07\/hhds-board-resigns-after-stake-sale-finds-no-buyers\/","url_meta":{"origin":575417,"position":4},"title":"HHD\u2019s board resigns after stake sale finds no buyers","author":"enterpriseam admin","date":"7 April 2020","format":false,"excerpt":"HHD\u2019s board resigns after stake sale finds no buyers: State-owned Heliopolis for Housing and Development\u2019s (HHD) chairman and board of directors have submitted their resignations to parent company Holding Company for Construction and Development (HCCD) after failing to secure offers for its tender for a 10% stake + management rights\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/4\/63.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":593413,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/11\/27\/heliopolis-housing-to-sell-22-25-stake-in-1q2020-tawfik-says\/","url_meta":{"origin":575417,"position":5},"title":"Heliopolis Housing to sell 22-25% stake in 1Q2020, Tawfik says","author":"enterpriseam admin","date":"27 November 2019","format":false,"excerpt":"PRIVATIZATION WATCH- HHD to sell 22-25% stake in 1Q2020, Tawfik says: State-owned Heliopolis Housing and Development (HHD) will offer a 22-25% stake in a secondary offering scheduled to go to market in 1Q2020, Public Enterprises Minister Hisham Tawfik said, according to Reuters. 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