Heliopolis Company For Housing & Development has specialized in master-planned communities in Egypt since its inception in 1906. In February 2024, the company announced its intention to invest around $83.4 million over the next five years to develop New Heliopolis City. In 2023, the company’s revenue grew by 681% to hit $326 million. The company is affiliated with the Holding Company for Construction & Development with a 72.25% stake, which is affiliated with Egypt’s Ministry of Public Business Sector.