Entered the Holding Company for Construction and Building Egyptian In negotiations with Gulf companies and funds to sell assets and lands, according to two people familiar with the file, they spoke with Al-Sharq, on the condition that their names not be published, because the talks are not public.
One person revealed to “Al Sharq” that “the negotiations include pumping investments to acquire lands owned by the company in several regions in Egypt, in addition to participating in the Helio Park project of the Heliopolis Housing Company,” most of which is owned by the “Holding for Construction.”
In December 2021, “Heliopolis for Housing and Development” initially chose the “Mountain View for Development and Real Estate Investment” company to participate in the development of the giant “Helio Park” project on an area of 1695 acres, and with expected total revenues from the project of 397 billion pounds over a period of 23 to 25 years, but it She has not yet signed an engagement contract with her.
The negotiations to sell part of the Holding for Construction’s assets come at a time when Egypt is suffering from a severe shortage of foreign currency, which necessitated support from the Arab Gulf states, whether through deposits in the central bank or through the investment of Gulf sovereign funds in listed government companies.
