Heliopolis Firm for Housing and Improvement is working on signing the closing contracts for the Helio Park challenge with the Mountain Watch Firm, which is predicted to make a whole turnover of EGP 397 billion, as before long as by the end of this calendar year (just one dollar equals EGP 19.1).
“We are examining the phrases of the agreement with Mountain Watch (currently) to acquire the giant Helio Park undertaking. We hope to end quickly and indicator, and we aim perfectly prior to the finish of the calendar year, but I can not specify a specific date,” according to Tamer Nasser. , CEO of Heliopolis Housing and Development. In statements to “Al-Sharq”.
Heliopolis for Housing and Enhancement chose Mountain Check out Growth and Authentic Estate Expenditure past December to participate in the enhancement of the gigantic “Helio Park” challenge on an region of 1,695 acres, with whole job revenues of £ 397 billion in addition From 23 to 25 a long time.
“Mountain View” was chosen from 3 organizations that submitted features to “Heliopolis for Housing and Advancement” to take part in the “Helio Park” project, namely: “Mountain Perspective”, “Hassan Allam” and “Al-Futtaim”. The share of “Heliopolis” is in the projected revenues of the project, about 115 billion lbs ..
Mountain View pays EGP 1.4 billion to Heliopolis for its participation in the Helio Park project
Mountain Check out Development and Real Estate Investment will fork out an progress of EGP 1.4 billion to Heliopolis Housing and Development for its participation in the challenge, with a 50% down payment upon signing of the arrangement and 50% inside of 18 months. Heliopolis’ share of the project’s revenues is around 30%.
At 08:53 GMT, “Heliopolis” inventory was trading on the Egyptian inventory exchange at 6.03 kilos, down .17%.
Heliopolis Housing and Advancement owns a land portfolio of 29.5 million sq. meters, of which approximately 18 million sq. meters are unexploited.
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