Heliopolis Housing has announced that its Board of Directors (BoD) had approved the company’s investment plan for FY2016/17 with an investment cost amounting to EGP550 million, to be spread over New Heliopolis, Al-Obour and other locations. The company had signed a co-development agreement with SODIC, under which the company will be contributing the land and the external infrastructure in exchange for 30% of the project’s sales value. The project is currently under design with plans to launch in early 2017. FY2016/17 may be seen as a transitional year for the company, which is set mark the kick-off of the company’s gradual immigration to business model that is more biased towards an off-plan model, which would allow faster monetisation of value. (Company disclosure, Mai Attia, Sara Boutros)   Heliopolis Housing: EGP51.06 as of 30 March 2016, Rating: Buy, FV: EGP73.11 per share, MCap: USD640 million, HELI EY / HELI.CA