Heliopolis Developers Group (HDG) reveals executive position of current projects and future plans, through the launch of a new housing project with investments of EGP 2 bn, Invest-Gate reports.

Tariq Abdel-Latif, chairman and managing director of the company, confirms that more details on HDG’s next investment in the residential sector will be announced this year.

Moataz Abdel Shafi, managing director for technical affairs, notes that the company carried out works on its projects last year, at a value of EGP 200 mn.

He explains that the first phase of exterior and interior finishes, electricity networks, sanitation, air-conditioning and landscapes, in the Korba Heights project is completed. Additionally, the execution of second phase of exterior and interior finishes is underway and will be delivered in 2021. More than 29,000 m3 of concrete for the third phase is already completed. Third phase delivery-date is expected by 2022.

The New Korba and Sarayat El Korba projects are completed in regard to services and landscaping. About 65% of the total number of units sold have been delivered, with the residual to be delivered in 2021.

Mohamed Antar, the company’s customer service manager, adds that installments are listed for about 90% of clients wishing to schedule their payments and setting deadlines for the delivery date.

This indicates that the company has reached the delivery rate of New Korba, of more than 90% and has delivered approx. 85% of the villas. Antar stresses that New Korba buildings are in advanced stages of implementation procedures for permanent facilities.