In a disclosure on Wednesday, the company stated that the agreement includes a mechanism for constructing and maintaining roads on a pro-rata basis.
It explained that the agreement would increase the minimum
guaranteed returns by approximately 2.5 billion Egyptian pounds, equivalent to
874 million pounds in present value, adding to the total value of strategic
partnerships between the two companies.
At the beginning of last year, Helioplis Company for Housing
and Development signed a contract with Middle East for Real Estate Development
and Tourism Investment to develop 865 acres in New Heliopolis City.
The development contract grants Helioplis Company a 28%
share of revenues from semi-finished units, in addition to 3% of the finishing
value, with a guaranteed minimum of 23 billion pounds and expected returns of
39.7 billion pounds.
The project's implementation period is 10 years from the
date the first license is issued, with a development, marketing, and sales
period of 14 years.
Helioplis Company for Housing and Development reported a net profit of 640.29 million pounds from January to the end of June 2025, compared to a profit of 1.39 billion pounds during the same period in 2024.