Cairo – Mubasher: Egypt’s state-run Holding company for Construction and Development (HCCD) has set a five-year strategic plan to enhance the position of Heliopolis Company for Housing and Development to be placed among the largest real estate developers in the country, the Middle East News Agency (MENA) reported on Monday.
The company’s board of directors was reshuffled to include top-notch professionals with the aim of making the company regain its leading position, HCCD’s Chairman, Hisham Aboul Atta, said in a conference.
With a real estate asset portfolio valued at about EGP 100 billion, Heliopolis Housing has a great potential to have a strong position in the market, the company’s Chairman, Khaled Zakaria, noted.
The strategic plan includes the development of Neopolis City by reviewing and developing the current masterplan, together with setting a clear plan for development before mid-2021, the CEO, Tamer Mohamed, said.
As for Heliopark project, Mohamed revealed that the company signed a contract with one of the largest international offices to conduct a feasibility study and set a new masterplan for the project in 2021.
The company is also in talks with several property developers to partner on the development of an area of 1,000-1,200 feddans.
