The Clap
The Holding Company for Construction & Development is in negotiations with Gulf funds and companies to sell a number of assets and lands, as per sources to Asharq.
Need to Know
The Holding Company for Construction & Development is a state-owned subsidiary of the Ministry of Public Business Sector.
What
The negotiations included the development of the “Heliopark” project for Heliopolis Company for Housing and Development (HELI), a subsidiary of the Holding Company for Construction & Development (HCCD).
So What
The negotiations aim to bring in large investments through the sale of a number of lands belonging to the HCCD in a number of regions in Egypt, in line with Egypt’s need for support from the Arab Gulf states.
Now What
Following the news, Heliopolis Company’s stock closed yesterday’s session up 3.01%.
