Heliopolis Housing sells housing units for LE 76M in August

CAIRO – 11 September 2017: Heliopolis Housing announced selling housing units for LE 76.1 million ($4.3 million) in August in various projects, a statement to the Egyptian Exchange said Monday.

The company noted that it sold units and villas in New Heliopolis project for LE 28 million and in Sheraton Housing project for LE 48 million.

Heliopolis Housing targets sales of LE 1.2 billion in the fiscal year 2017/2018, the statement read.

The EGX-listed firm’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.

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

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