Heliopolis Housing denies receiving $400M acquisition offer from Saudi firm

Updated 6/6/2023 9:51:00 AM
Heliopolis Housing denies receiving $400M acquisition offer from Saudi firm

Arab Finance: Heliopolis Company for Housing and Development (HELI) has denied receiving a $400 million acquisition offer from a Saudi firm, according to a filing to the Egyptian Exchange (EGX) on June 6th.

The company has not received any official offers to date and it will disclosure any update regarding this matter in future.

Heliopolis Housing and Development (HHD) is a leading Egypt-based real estate development company that operates in land reclamation and subdivision, residential real estate development and management, property purchase and sale, and project planning and supervising. This is in addition to the construction of houses, hotels, holiday resorts, and hospitals.

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