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Monday, 25 July 2016

Heliopolis Housing delays enforcing decision to vacate Merryland park from current tenant

Heliopolis Company for Housing & Development has opted to delay vacating the Merryland park on the police’s recommendation due to “security concerns”, according to a bourse statement. Heliopolis Housing was looking to enforce a court order and evict from the plot from current tenant, Magic Dreams. Heliopolis Housing has already begun tendering parts of the park for development, although Magic Dreams is still operating as normal and even sought a EGP 350 mn loan to develop the area.

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