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“Heliopolis” sells 270 acres in “New Heliopolis” for 2.5 billion pounds

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Heliopolis Company for Housing and Development has sold two plots of a 270-acre residential, fully-serviced residential space in the twentieth district of the new city of Heliopolis, one deal.

The company stated that the total value of the sale deal amounted to 2.5 billion pounds.

She explained that the payment is made according to the terms of the two systems, the first payment of 20% in advance, the rest over two years without interest, the second payment of 10% in advance and the rest over 10 years at 7% interest annually.

In early March, the company revealed the postponement of an auction session for the sale of two plots of space for a fully-serviced residential space of approximately 270 acres in the twentieth district of New Heliopolis until the end of the month.

The company attributed the reason behind the postponement to the fact that it had received 3 offers to buy the two plots of land mentioned, accompanied by checks, and who asked to postpone the auction for a month to obtain a period of study.

She indicated that the company had received a verbal request from an interested investor to postpone 15 days for inspection and study.

It is noteworthy that the company decided, in mid-February, to postpone the auction session for the sale of two plots of dedicated residential space for full-service residential areas of approximately 270 acres in the twenty district of New Heliopolis, based on the requests submitted by the bidders, in order for them to complete the required documents.

Heliopolis Housing announced on January 13 its intention to launch a public bid by the closed envelopes system, for the sale of two plots of space dedicated to residential services, with a total area of ​​270 acres for the two plots, in New Heliopolis, and the February 15 session was scheduled.

Heliopolis Housing and Development Company turned into a loss of 84.6 million pounds during the first half of the current fiscal year, compared to a net profit of 351.4 million pounds during the same period of the fiscal year 2019-2020, taking into account the rights of the minority shareholders.

The company’s revenues decreased during the first half by 89.4% to reach 77.9 million pounds, compared to total sales of 732.4 million pounds in the same period of the previous fiscal year.

The total profit declined during the same period to 59.7 million pounds, compared to 596.9 million pounds in 2019.

The company attributed the decline in its profits and sales during the six months ending on December 31 to three reasons, including stopping the sale of residential units during the aforementioned period because the company re-pricing some of the projects, as well as not selling any areas of land during the aforementioned period other than what has been sales for the same period. Comparison. On Sunday, February 28, an auction session has been scheduled to sell 270 acres of space in New Heliopolis.

In addition to the circumstances the country is going through regarding the Corona pandemic and its financial impact on the volume of revenues.

The ordinary general assembly of the “Heliopolis Housing” company approved the balance sheet on June 30, 2020, and the income list and final accounts on the same date, with a net profit of 365.55 million pounds.

The article “Heliopolis” sells 270 acres in “New Heliopolis” for 2.5 billion pounds, it was written in Al-Borsa newspaper.

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