Heliopolis Company for Housing and Development (HELI), an Egypt-based real estate firm, is seeking to secure EGP 388 million in credit from banks and financial leasing companies, reported Mubasher.

The required financing is for projects in New Heliopolis and for the construction of a power station for EGP 228 million, in cooperation with the Egyptian Armed Forces, over 24 months, according to Amwal Al Ghad.

HELI gave the banking institutions and financial leasing firms 15 days to submit their proposal.

“Heliopolis Housing is in talks with each of National Bank of Egypt, Banque Misr, Barclays bank, Audi Bank, Arab African International Bank, in addition to finance leasing firms, in order to obtain the needed loan,” said Bahaa Al Dein, Investor Relations Manager,