Egyptian real estate company, Heliopolis for Housing and Development, launches a new housing project spanning an area of 100 feddans in New Heliopolis, Reuters reports.

The company will start marketing the new units in October, according to its statement.

The company adds, the three-phase housing project will be implemented in five years. It also expects that the cost of the project will stand at about EGP 2 bn while revenue will hit EGP 4 bn.

The project targets the establishment of 1,036 housing units during FY2017-18 with a total sales value of EGP 1.2 bn.