New Heliopolis City, owned by Heliopolis Company for Housing and Development, will witness the development of a new residential project with investments of EGP 2 billion, the Chairman of Heliopolis Developers Group (HDB), Tarek Abdel Latif, said.
The company established projects worth EGP 200 million in New Heliopolis City during 2020, Abdel Latif added in a press conference.
It is close to complete the construction of two residential projects in the city; the first one over 10 feddans with the first phase scheduled for delivery in July, the second in March 2022, and the third in December 2022.
Abdel Latif expects a boom in the real estate market in New Heliopolis City with the launch of the New Administrative Capital.
New Heliopolis City, located in east Cairo, has been established as per the presidential decree no. 193 of 1995.
