Heliopolis Housing and Development Co. is planning to sell two vacant land plots in the residential block behind Fairmont Heliopolis Hotel, in the Sheraton residential area, in a public auction on January 13, 2013. It is expected that the sale of land will raise around EGP 20 million.

Shaban Ibrahim, Investor Relations Manager, told Mubasher exclusively that the land will be sold at average price of EGP 12.5/sqm. He added that more land plots will be offered for sale during January 2013 and February 2013 coupled with selling completed residential units in Heliopolis's various projects.