The Holding Company for Construction and Development (HCCD) will submit the final amendments to the development plan of the Heliopolis Company Housing and Development (HHD) to the Ministry of Public Enterprise Sector next Monday at the latest.
HCCD Chairperson Hisham Abu Al-Atta told Daily News Egypt that the plan’s implementation will begin as soon as approved by the ministry. He expects the actual start of the development plan to be in September.
The details of the development plan will be announced at a later time, and Abu Al-Atta declined to disclose any further details.
Minister of Public Enterprise Sector Hisham Tawfik held a meeting with the HHD’s Board of Directors in mid-August, to discuss the company’s development plan in the coming period. He demanded that amendments be made to the plan drafted by the new board of HHD.
Abu Al-Atta said earlier that the plan includes clear mechanisms and executable plans to develop the company, mainly depending on self-resources. This comes in addition to partnership agreements with some developers to exploit pieces of the company’s land portfolio, similar to a previous agreement signed with SODIC to develop 650 feddan in New Heliopolis.