{"id":578866,"date":"2023-01-17T04:12:21","date_gmt":"2023-01-17T04:12:21","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/01\/17\/hccd-reportedly-in-talks-to-sell-land-to-gulf-investors\/"},"modified":"2023-01-17T04:12:21","modified_gmt":"2023-01-17T04:12:21","slug":"hccd-reportedly-in-talks-to-sell-land-to-gulf-investors","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/01\/17\/hccd-reportedly-in-talks-to-sell-land-to-gulf-investors\/","title":{"rendered":"HCCD reportedly in talks to sell land to Gulf investors"},"content":{"rendered":"

<\/a> Gulf investors are reportedly interested in HCCD\u2019s land bank, assets:<\/strong> The state-owned parent of Heliopolis Housing is in talks with Gulf investors to sell off land and other assets, Bloomberg Asharq<\/a> reported Sunday, citing two sources familiar with the matter. The investors are negotiating with the Holding Company for Construction and Development (HCCD) to acquire land in several regions of the country and are interested in investing in Heliopolis Housing\u2019s Heliopark project, one of the people said. A source at the company we spoke to yesterday denied that HCCD was considering selling land and characterized the arrangement as a partnership. The identities of the Gulf investors remain unknown.<\/p>\n

Mountain View was supposed to be on board for Heliopark:<\/strong> Heliopolis Housing said<\/a> in December 2021 that it had accepted an offer from Mountain View to co-develop the New Cairo project, which it anticipates to generate EGP 397 bn in revenues over a 23-25-year time period.<\/p>\n

The state is fielding foreign offers to buy<\/strong> land for FX:<\/strong> The New Urban Communities Authority (NUCA) has received \u201cmany requests by Arab and foreign investors\u201d to pay for state-owned land in USD, Walid Abbas, assistant housing minister and supervisor of planning and projects at NUCA, said<\/a> last month. Abbas\u2019s statements came days after the cabinet approved the sale of a state-owned plot in Sadat City to an unnamed Gulf investor to set up a housing project, setting a precedent<\/a> to approve similar cases where foreign investors agree to pay for land in FX.<\/p>\n

REMEMBER-<\/strong> The government has recently revamped its privatization strategy<\/a> amid a foreign-currency shortage and the finalization of our loan agreement with the IMF, which saw policymakers pledge to reduce state involvement in the economy and move to a fully flexible exchange rate. Our Gulf neighbors last year pledged over USD 22 bn in total to support the economy amid the fallout from the crisis in Ukraine, with Gulf wealth funds investing a combined USD 3.1 bn in government-owned shares in EGX-listed companies. The Sovereign Fund of Egypt is now leading efforts to attract strategic investors<\/a> into other state- and military-owned firms, with plans to raise as much as USD 6 bn.<\/p>\n","protected":false},"excerpt":{"rendered":"

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 and Development (HCCD) to acquire […]<\/p>\n","protected":false},"author":1,"featured_media":578867,"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":[7363],"tags":[72,5175,157,7128,81,83],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-578866","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch","tag-enterpriseam","tag-hccd","tag-heliopolis-housing-and-development","tag-ma-watch","tag-privatization-watch","tag-real-estate","wpautop","entry"],"acf":{"mongo_id":"4c727a04-22a0-4cb2-84ab-fab3dc99b1d1","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/1\/271.jpg","photo_position":"above","related_issue":[578861],"teaser":"","voice_url":""},"yoast_head":"\nHCCD reportedly in talks to sell land to Gulf investors - 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\/2023\/01\/17\/hccd-reportedly-in-talks-to-sell-land-to-gulf-investors\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"HCCD reportedly in talks to sell land to Gulf investors\" \/>\n<meta property=\"og:description\" content=\"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. 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Heliopolis Housing and Development (HHD) has denied reports in the local media that Saudi real estate developer Alameriah is offering to buy a 70% stake in the company for USD 400 mn, Asharq Business reports. HHD said it hadn\u2019t received any\u2026","rel":"","context":"In "Real estate"","block_context":{"text":"Real estate","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/real-estate\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/6\/401.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":580723,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/01\/16\/this-evening-hccd-is-in-talks-with-gulf-investors-turkey-has-averted-its-ever-given\/","url_meta":{"origin":578866,"position":1},"title":"THIS EVENING: HCCD is in talks with Gulf investors + Turkey has averted its Ever Given","author":"enterpriseam admin","date":"16 January 2023","format":false,"excerpt":"Good afternoon, beautiful people: The news flow at home is continuing at a crawl though there\u2019s plenty happening abroad, with the 2023 World Economic Forum opening this evening and Turkey averting its own version of the Ever Given crisis. THE BIG STORY TODAY- Is HCCD planning to sell some of\u2026","rel":"","context":"In "WHAT WE\u2019RE TRACKING TONIGHT"","block_context":{"text":"WHAT WE\u2019RE TRACKING TONIGHT","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-tonight\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/1\/670.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":575417,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/10\/14\/hccd-kicks-off-restructuring-plans-to-streamline-operations\/","url_meta":{"origin":578866,"position":2},"title":"HCCD kicks off restructuring plans to streamline operations","author":"enterpriseam admin","date":"14 October 2020","format":false,"excerpt":"M&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\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/10\/146.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":584606,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/04\/03\/does-aldar-want-in-on-heliopolis-housings-heliopark-project\/","url_meta":{"origin":578866,"position":3},"title":"Does Aldar want in on Heliopolis Housing\u2019s Heliopark project?","author":"enterpriseam admin","date":"3 April 2023","format":false,"excerpt":"Aldar is reportedly shopping around after SODIC\u2019s play for ORE fell through","rel":"","context":"In "Real estate"","block_context":{"text":"Real estate","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/real-estate\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/4\/86.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":578866,"position":4},"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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