{"id":588254,"date":"2023-06-08T00:00:00","date_gmt":"2023-06-08T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/06\/08\/a-saudi-suitor-for-heliopolis-housing\/"},"modified":"2023-06-08T00:00:00","modified_gmt":"2023-06-08T00:00:00","slug":"a-saudi-suitor-for-heliopolis-housing","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/06\/08\/a-saudi-suitor-for-heliopolis-housing\/","title":{"rendered":"A Saudi suitor for Heliopolis Housing?"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\"> <\/span><span style=\"font-weight:700\">A Saudi takeover in the cards for Heliopolis Housing?<\/span><span style=\"\"> Heliopolis Housing and Development <\/span><span>(HHD) has denied <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.egyptindependent.com\/saudis-al-ameriah-company-requests-majority-stake-in-heliopolis-housing-company\/\" style=\"\">reports in the local media<\/a><\/span><span> that Saudi real estate developer <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/alameriah.com\/en\/home\/\" style=\"\">Alameriah<\/a><\/span><span> is offering to buy a 70% stake in the company for USD 400 mn, <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/bit.ly\/3Nc7TBm\" style=\"\">Asharq Business<\/a><\/span><span style=\"font-weight:400;\"> reports. HHD said it hadn\u2019t received any official acquisition bids, after local outlets said Alameriah had submitted its offer to Sovereign Fund of Egypt (SFE) Chairman Hala El Said. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">By the numbers<\/span><span>: If it materializes, the offer would value HHD at some USD 571.4 mn or<\/span><span> USD 0.43 per <\/span><span>share. That\u2019s a roughly 27.2<\/span><span>% premi<\/span><span>um to HHD\u2019s price per share of EGP <\/span><span>10.46 at <\/span><span style=\"font-weight:400;\">close on Monday, before the news broke. HHD shares closed 2.8% lower yesterday \u2014 but remained up for the week so far \u2014 at EGP 10.86.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">HHD wants to auction off the land in its Heliopark project:<\/span><span> The company has tapped the SFE to offer land plots at its Heliopark project to developers before the end of the year, Asharq reported, citing an unnamed source at its parent firm, the Holding Company for Construction and Development (HCCD). HHD plans to divide the project\u2019s 1.7k acres into plots of no less than 200 acres so that multiple developers can buy in, according to the source. HHD scrapped its agreement to co-develop the project with Mountain View <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4e87b35d-4713-4013-9caf-d8e646042878\" style=\"\">earlier this year<\/a><\/span><span style=\"font-weight:400;\">.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Gulf investors could be interested: <\/span><span>Local media <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d4ea9761-c828-4ec2-9166-2707441b4c34\" style=\"\">reported in April<\/a><\/span><span style=\"font-weight:400;\"> that Gulf investors including Emirati real estate giant Aldar Properties are interested in co-developing Heliopark and \/ or buying part of HCCD\u2019s land bank.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A Saudi takeover in the cards for Heliopolis Housing? 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 official acquisition bids, after local [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":588255,"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":[7371],"tags":[10665,72,3648,157,83,587],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-588254","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-real-estate","tag-alameriah","tag-enterpriseam","tag-heliopark","tag-heliopolis-housing-and-development","tag-real-estate","tag-state-privatization-program","wpautop","entry"],"acf":{"mongo_id":"1d8d3772-b4e2-4733-aca7-75655c9ae8fa","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/6\/401.jpg","photo_position":"above","homepage_title":"","full_issue_title":"A Saudi suitor for Egypt\u2019s Heliopolis Housing and Development?","related_issue":[588247],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/6\/.06c05f01-9efe-4a22-abe1-d903af6f5b50.mp3"},"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>A Saudi suitor for Heliopolis Housing? - 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\/06\/08\/a-saudi-suitor-for-heliopolis-housing\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"A Saudi suitor for Heliopolis Housing?\" \/>\n<meta property=\"og:description\" content=\"A Saudi takeover in the cards for Heliopolis Housing? 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 official acquisition bids, after local [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2023\/06\/08\/a-saudi-suitor-for-heliopolis-housing\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2023-06-08T00:00:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2023\/6\/401.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=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/06\/08\/a-saudi-suitor-for-heliopolis-housing\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/06\/08\/a-saudi-suitor-for-heliopolis-housing\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"A Saudi suitor for Heliopolis Housing?\",\"datePublished\":\"2023-06-08T00:00:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/06\/08\/a-saudi-suitor-for-heliopolis-housing\/\"},\"wordCount\":259,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/06\/08\/a-saudi-suitor-for-heliopolis-housing\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2023\/6\/401.jpg?fit=%2C&ssl=1\",\"keywords\":[\"Alameriah\",\"EnterpriseAM\",\"Heliopark\",\"Heliopolis Housing and Development\",\"real estate\",\"state privatization program\"],\"articleSection\":[\"Real estate\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/06\/08\/a-saudi-suitor-for-heliopolis-housing\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2023\/06\/08\/a-saudi-suitor-for-heliopolis-housing\/\",\"name\":\"A Saudi suitor for Heliopolis Housing? 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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. 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The project, which will feature residential buildings and a shopping mall, will be built in three phases, the source added.","rel":"","context":"In &quot;Real Estate + Housing&quot;","block_context":{"text":"Real Estate + Housing","link":"https:\/\/enterpriseam.com\/egypt\/category\/real-estate-housing\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":598233,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/05\/19\/egypts-hhd-plans-to-auction-190-feddan-in-heliopolis-as-part-of-sell-off-plan\/","url_meta":{"origin":588254,"position":2},"title":"Egypt\u2019s HHD plans to auction 190-feddan in Heliopolis as part of sell off plan","author":"enterpriseam admin","date":"19 May 2019","format":false,"excerpt":"Heliopolis Housing and Development (HHD) is planning to auction another land plot in Heliopolis as part of its plans to sell off a total of 190 feddans to finance debt repayment and investment, HHD\u2019s Sahar Al Damati said, according to the local press. The company is also selling 32 plots\u2026","rel":"","context":"In &quot;Real Estate + Housing&quot;","block_context":{"text":"Real Estate + Housing","link":"https:\/\/enterpriseam.com\/egypt\/category\/real-estate-housing\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":594430,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/10\/29\/egypts-hhd-to-auction-land-plots-in-el-shorouk\/","url_meta":{"origin":588254,"position":3},"title":"Egypt\u2019s HHD to auction land plots in El Shorouk","author":"enterpriseam admin","date":"29 October 2019","format":false,"excerpt":"Heliopolis Housing and Development (HHD) is auctioning today an undisclosed number of land plots in Shorouk City, according to the local press. The plots range between one and 30 acres in size and can be used for residential, administrative, or commercial purposes. The company announced the auction earlier this month.","rel":"","context":"In &quot;Real Estate + Housing&quot;","block_context":{"text":"Real Estate + Housing","link":"https:\/\/enterpriseam.com\/egypt\/category\/real-estate-housing\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":573346,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/07\/29\/hhd-extends-contract-to-co-develop-new-heliopolis-land-with-sodic\/","url_meta":{"origin":588254,"position":4},"title":"HHD extends contract to co-develop New Heliopolis land with Sodic","author":"enterpriseam admin","date":"29 July 2020","format":false,"excerpt":"HHD extends contract to co-develop New Heliopolis land with Sodic: State-owned Heliopolis Housing and Development\u2019s (HHD) board of directors agreed yesterday to extend the deadline by 11 months to develop a a 655-feddan plot in New Heliopolis under a 2016 agreement with upmarket real estate developer Sodic, according to a\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":649684,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/03\/06\/egp-float-runs-up-costs-of-new-heliopolis-development\/","url_meta":{"origin":588254,"position":5},"title":"EGP float runs up costs of New Heliopolis development","author":"enterpriseam admin","date":"6 March 2017","format":false,"excerpt":"The EGP float has raised the costs of developing the 655-acre New Heliopolis project 20% to EGP 35 bn, up from an initial estimate of EGP 30 bn before November, said Hany Al Deeb, CEO of Heliopolis Housing and Development company (HHD), which is co-developing the project with SODIC. Al\u2026","rel":"","context":"In &quot;Real Estate + Housing&quot;","block_context":{"text":"Real Estate + Housing","link":"https:\/\/enterpriseam.com\/egypt\/category\/real-estate-housing\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/588254","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=588254"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/588254\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/588247"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/588255"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=588254"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=588254"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=588254"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=588254"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=588254"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}