Heliopolis Company for Housing and Development announced its plans to develop 22 acres in the first phase of Maryland Park, Amwal Al Ghad reported.

In a statement to the Egyptian Exchange, the company announced that 22 acres out of 54 acres were put up for auction, according to Al Mal News.

Heliopolis Company will sign a contract with El-Nasr Building and Construction Company to execute the EGP 29.9 million project. The agreement is set to be signed in the upcoming days.

The remaining acres of land will be put up for auction in the upcoming period.