Heliopolis Housing posts LE 550M investments in FY2016/17

CAIRO – 27 July 2017: Heliopolis Housing’s investments advanced 52 percent to reach LE 550 million ($30.6 million) in the fiscal year 2016/2017 compared to LE 361 million in the previous year, a Thursday statement said.

Sales hiked 97 percent year-on-year in the fiscal year ending in June 30, 2017, leading to an increase in the surplus.

The company expected revenues of LE 827.3 million and redistributable profit surplus of LE 3.140 million in the same fiscal year.

Heliopolis Housing announced achieving 116.2 percent of the target, compared to 97 percent attained in the fiscal year 2015/2016, the statement added.

Heliopolis Housing is a public company based in Cairo, operating in the real estate sector.