Heliopolis Company for Housing and Development, an Egypt-based construction company, is set to finalize the utility works for New Heliopolis City by 2016’s end, announced Khaled Marasi, Managing Director, Amwal Al Ghad reported.

Utility work includes connecting the utilities to the land border and extending both fresh water and waste water as well as electricity networks at a cost of EGP one billion, Marasi explained. In addition, two power plants and a water tertiary treatment plant are to be established.

Once the utility works have been finalized, the real estate developer SODIC will start developing the EGP 30 billion residential project to cover an area of 665 acres.

The new project will be located in New Heliopolis district on a land owned by Heliopolis Company. About 8,600 residential units will be built with expected investment returns of EGP 10 billion.