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Monday, 20 February 2023

HHD shareholders vote to scrap Heliopark tender

REAL ESTATE-

Heliopolis Housing shareholders approve scrapping Heliopark tender: The shareholders of state-owned Heliopolis Housing approved on Saturday the company’s decision to scrap plans to co-develop its Heliopark project in New Cairo with Mountain View, according to a bourse filing (pdf). The company’s board chose Mountain View a year ago in a tender to find a partner to co-develop Heliopark, only to call the agreement off in January, citing the current economic conditions and rising land valuations.

REMEMBER- The parent company of Heliopolis Housing is reportedly in talks with Gulf investors who are interested in investing in Heliopark.

FINTECH-

e-Finance subsidiary e-Khales will offer digital payment solutions to Contact Financial Holding under an agreement between the two firms, according to an EGX disclosure (pdf). This will allow Contact customers to pay for household utilities, school fees, ins., club subscriptions and other bills in Contact branches and via its mobile app, which was launched last month, the statement reads.

ENERGY-

Gov’t sets solar plant licensing fees: Solar plants producing up to 500 KW will have to pay EGP 7k to obtain a license, while licenses for facilities producing more than 500 KW will cost EGP 35k, according to a fresh set of regulations (pdf) recently approved by the Egyptian Electric Utility & Consumer Protection Regulatory Agency (Egyptera). Projects generating less than 500 KW can also apply to Egyptera for an exemption from the licensing requirements.

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