Data Sources: Company disclosures are attached below
Heliopolis for Housing and Development (HELI) has entered into several partnership agreements to develop land plots in its New Heliopolis project. These deals, as disclosed by the company, highlight development plans. Below is a summary of the disclosed details, including the dates, land sizes, and expected sales figures as per the company's announcements.
In a press release disclosed to the EGX on July 10, 2024, Heliopolis Housing and Development CEO, Eng. Sameh ElSayed, announced that the company has successfully secured four partnership agreements in New Heliopolis City since November 2023, strengthening its long-term revenue outlook.
These four land development partnerships cover a total area of 2,327.91 acres, with a minimum guaranteed amount of EGP 106 billion and total expected revenue of EGP 166 billion, subject to increase over a 15-year period.
These four partnerships, briefly outlined, include the MG Development project with a land area of 77.91 acres, two land plots with the Middle East Company for Real Estate Development and Investment covering 894 acres and 865 acres, and a partnership with Madding Masr for Housing and Development over 491 acres.
On April 29, 2024, Heliopolis for Housing and Development’s board approved a contract addendum with the Middle East Company for Real Estate Development and Investment to develop a total of 1,759 acres in New Heliopolis City. Key details of the agreement include:
Total Land Size: 1,759 acres
Northern Land: 894 acres
Minimum guaranteed amount: EGP 23.8 billion
Expected revenue: EGP 41 billion
Down payment: EGP 155 million
Guarantee letter: EGP 134 million
Project life: 14 years
Southern Land: 865 acres
Minimum guaranteed amount: EGP 23 billion
Expected revenue: EGP 39.69 billion
Down payment: EGP 155 million
Guarantee letter: EGP 130 million
Project life: 14 years
On June 4, 2024, the company disclosed the completion of all partnership requirements and the land handover to the Middle East Company for Real Estate Development and Investment.
On July 10, 2024, Heliopolis Housing and Development disclosed its partnership with Madinet Nasr for Housing and Development to develop 491 acres, with total expected revenues of EGP 194.4 billion over 12 years, and an upfront payment of EGP 1.1 billion from Madinet Nasr. Key details of the agreement include:
Total Land Size: 491 acres
The land area over two plots:
First Plot: 245.1 acres
Second Plot: 246.31 acres
Minimum guaranteed amount: EGP 53.180 billion to be paid over 9 years.
Expected revenue: EGP 70.9 billion
Down payment: EGP 1.1 billion
HELI partnership percentage: 36.50%
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