Egypt: Three companies propose to participate in New Heliopolis City project

The Urban Communities Authority (NUCA) has received technical and financial proposals from Hyde Park, Madinet Masr Housing and Development, and Mountain View to participate in the New Heliopolis City project.

Heliopolis Company for Housing and Development announced the completion of the technical evaluation of the proposals and that the financial evaluation is expected to be concluded by the end of April 2024.

The value of New Heliopolis City’s land exceeds EGP 10 billion.

In March 2024, Heliopolis Company received a technical and financial offer from Madinet Masr for the development of three plots of land in New Heliopolis City.

Heliopolis Company’s net profit registered EGP 7.80 billion in 2023, a surge from EGP 603 million a year earlier.