The plan aims to maximize the value of the company, and make good use of the HHD land portfolio. The new plan includes clear mechanisms to develop the company using self-resources, in addition to partnership agreements with some developers, similar to the recent agreement with SODIC to develop 650 feddan in New Heliopolis.
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Securitisation within scenarios company is considering to obtain financing, says El Damaty
HHD Chairperson Hany El-Deeb told Daily News Egypt that the IPO plan has been cancelled and replaced by another one for self-financing of the company’s expansions. This would happen by restructuring the untapped assets.
No companies have presented offers
Company to choose winner bid in April, taking 30-45 days to assess offers, says chairperson
The deadline extended until the practice prospectus is prepared in December
HHD opens door for real estate developers to compete for managing company’s portfolio of assets
Heliopolis Company for Housing and Development (HHD) signed a finance lease on Thursday worth EGP 500m with Taamir Mortgage Company (Al Oula) to finance the work on utilities in the New Heliopolis City project. During the signing ceremony on Thursday, Hassan Hussein, the chairperson of Al Oula, said that the financing will be made available …
Sales of Heliopolis Company for Housing and Development decreased by 20-25% since flotation