{"id":627471,"date":"2018-06-03T04:03:28","date_gmt":"2018-06-03T04:03:28","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/06\/03\/heliopolis-housing-reaches-egp-15-mn-settlement-agreement-with-magic-dreams\/"},"modified":"2018-06-03T04:03:28","modified_gmt":"2018-06-03T04:03:28","slug":"heliopolis-housing-reaches-egp-15-mn-settlement-agreement-with-magic-dreams","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/06\/03\/heliopolis-housing-reaches-egp-15-mn-settlement-agreement-with-magic-dreams\/","title":{"rendered":"Heliopolis Housing reaches EGP 15 mn settlement agreement with Magic Dreams"},"content":{"rendered":"

The Heliopolis Company for Housing and Development (HCHD) announced on Thursday (pdf)<\/a> reaching a EGP 15 mn settlement agreement with Magic Dreams on the dispute related to the development of Merryland Park. HCHD has already received EGP 5 mn of the amount and is expecting to receive a similar payment 10 days\u2019 time. The remaining EGP 5 mn will paid over four monthly installments, under the terms of the agreement. The companies had come to a preliminary understanding in February last year<\/a>, where HCHD agreed to allow Magic Dreams to finalize the development of the Merryland Park, with the Defense Ministry acting as financial guarantor. They also signed two new leasing agreements for the park later the same year<\/a>, which allowed Magic Dreams to settle its debts to HCHD at a 7% interest rate over the course of four years starting 1 October 2017.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Heliopolis Company for Housing and Development (HCHD) announced on Thursday (pdf) reaching a EGP 15 mn settlement agreement with Magic Dreams on the dispute related to the development of Merryland Park. HCHD has already received EGP 5 mn of the amount and is expecting to receive a similar payment 10 days\u2019 time. The remaining […]<\/p>\n","protected":false},"author":1,"featured_media":0,"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":[9304],"tags":[72,2402],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-627471","post","type-post","status-publish","format-standard","hentry","category-real-estate-housing","tag-enterpriseam","tag-real-estate-housing","wpautop","entry"],"acf":{"mongo_id":"920c55bd-7075-40cf-8fbf-fa451932ee56","order":"0","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","full_issue_title":"Heliopolis Housing reaches EGP 15 mn settlement agreement with Magic Dreams","related_issue":[627431],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/7\/.8eb85dcd-f614-44cd-a897-c84e2bb8febc.mp3"},"yoast_head":"\nHeliopolis Housing reaches EGP 15 mn settlement agreement with Magic Dreams - 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\/2018\/06\/03\/heliopolis-housing-reaches-egp-15-mn-settlement-agreement-with-magic-dreams\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Heliopolis Housing reaches EGP 15 mn settlement agreement with Magic Dreams\" \/>\n<meta property=\"og:description\" content=\"The Heliopolis Company for Housing and Development (HCHD) announced on Thursday (pdf) reaching a EGP 15 mn settlement agreement with Magic Dreams on the dispute related to the development of Merryland Park. HCHD has already received EGP 5 mn of the amount and is expecting to receive a similar payment 10 days\u2019 time. 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The Public Enterprises Ministry and the Holding Company for Construction and Development decided last week to hand the company\u2019s management\u2026","rel":"","context":"In "Real Estate + Housing"","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":564406,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/30\/earnings-heliopolis-housing-housing-and-development-bank-mb-engineering\/","url_meta":{"origin":627471,"position":4},"title":"Earnings: Heliopolis Housing, Housing and Development Bank + MB Engineering","author":"enterpriseam admin","date":"30 August 2021","format":false,"excerpt":"Minapharm Pharma bottomline more than doubled during 2Q2021, recording EGP 130.5 mn compared to EGP 48.2 mn last year, according to its financial statement (pdf). Revenues during the quarter were up 33% to EGP 681.4 mn from EGP 510 mn last year.MB Engineering recorded a net income of EGP 1.4\u2026","rel":"","context":"In "GO WITH THE FLOW"","block_context":{"text":"GO WITH THE FLOW","link":"https:\/\/enterpriseam.com\/egypt\/category\/go-with-the-flow\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":588254,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/06\/08\/a-saudi-suitor-for-heliopolis-housing\/","url_meta":{"origin":627471,"position":5},"title":"A Saudi suitor for Heliopolis Housing?","author":"enterpriseam admin","date":"8 June 2023","format":false,"excerpt":"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. 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