Heliopolis Company for Housing and Development has inked a strategic partnership to develop 865 acres in New Heliopolis City under a deficit-and-excess model. The agreement, finalized on 21 January 2024 with Middle East Real Estate and Tourism Development and Investment Company, positions the EGX-listed firm to secure EGP 39.7 billion in returns, with a guaranteed minimum of EGP 23 billion. The deal entails a 28% revenue share on semi-finished units and 3% of finishing value. The project spans a 10-year development phase, with marketing and sales extending over 14 years. Notably, shareholders recently greenlit the EGP 15 billion sale of Heliopark land in October 2023, signaling aggressive growth moves.