Heliopolis Housing began pricing 40 new pieces of land in the sixth district of New Heliopolis City in preparation for auctioning them at an average price of around LE 1,200 per square meter, according to a note from HC Brokerage citing Al-Mal.
The average area of the plots is around 1,000 sqm, and they will all be allocated for residential buildings, the note read, adding that the company is also auctioning 60 plots in the sixth district of New Heliopolis for villas.
Heliopolis Housing plans to build 28 residential buildings in the second district of New Heliopolis in fiscal year 2011/12 and establish another 125-building residential project in Obour City.
The company has concluded the sale of 33 out of 40 plots in the fifth district of New Heliopolis at an average price of LE 1,200/sqm.
