The Heliopolis Company for Housing and Development (HHD) studies launching a smart zone in partnership with a UAE investor, Invest-Gate reports.

To be modeled on some zones in the UAE, the new smart zone will be established according to the latest technology to facilitate sale and purchase more safely, noting that the modern mechanization system is the future of real estate sector, HHD Managing Director Sahar Al Damati said in press statement on May 1.

Al Damati elaborated that Egypt is currently undergoing a major digital transformation by setting mechanisms to deal with sending money through bank transfers using modern technology, ensuring the safety of money and reducing money laundering.

Back in February, HHD’s board of directors approved selling part of the company’s land portfolio to finance its investment plan. According to a released statement, the Egypt-based firm decided to sell its 1,980-square-meter plot located behind Sheraton Heliopolis and a 190-acre land plot in New Heliopolis City, northeast Cairo, in addition to a 100-acre land area in Heliopark City, east Cairo.