Arab Finance: The Board of Directors of the company decided Heliopolis Housing and Development (HELI)signed on November 14, 2024, contracted directly by order with Qalaa Asset Management Company, to exploit the Granada complex with a percentage of total revenues of 30% in the first year, with a guaranteed minimum of 1.8 million pounds annually, according to statement Egyptian Stock Exchange.
The agreement includes increasing revenues by 40% from the second year, with a guaranteed minimum of 2.4 million pounds annually, based on the results of its business for the financial period ending in 30/09/2024which showed achieving a net profit of 1.745 billion pounds, compared to a net profit of 8.078 million pounds for the same period of the previous year.
The company was established in 1906 and works in the field of reconstruction and comprehensive urban development. The company owns many projects, lands, and real estate in many distinguished areas of Cairo, such as Heliopolis, New Heliopolis, and New Cairo.
Its purpose is to carry out all work related to housing and construction projects, prepare and divide lands, provide them with facilities and services, organize, plan and sell lands that it owns or manages for others. As well as carrying out design work and supervising the implementation of local projects or in which Arab and foreign capital is invested, as well as the construction of special housing such as hotels, hospitals and tourist facilities.
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