Heliopolis Company for Housing and Development (HHD) unveiled on May 8 that it received the approval for additional heights of buildings at its land in Shorouk City, permitting the developer to build up to seven floors instead of four only, Invest-Gate reports.

HHD, however, did not reveal any further details regarding the aforementioned land as well as the plot’s area, according to a recent bourse filing.

Last February, the company’s board of directors approved to sell part of the company’s land portfolio to finance its investment plan. This includes a 1,980-square-meter land behind Sheraton and a 190-acre plot in New Heliopolis City, northeast Cairo, in addition to a 100-acre land area in Heliopark City, east Cairo.

In this regard, the Cairo-based developer recently announced selling a 1,980-acre land plot in Sheraton, Heliopolis, for EGP 99.3 mn at an auction held on May 4.

Additionally, back in October 2018, the construction firm had revealed that it will sell around 30 to 100 acres of land plots in its New Heliopolis City project to be used for residential, commercial, and service purposes.