Heliopolis Housing has announced that it is in talks with a number of financial institutions for a EGP388mn financing facility. The funds will be directed towards the design and execution of two electricity and one water network at the New Heliopolis land – all of which have already been contracted for in two-year contracts. The news comes ahead of the launch of Heliopolis Housing-SODIC co-development project, expected in early 2017. (Company disclosure)   Heliopolis Housing: EGP54.61 as of 30 August 2016, Rating: Buy, FV: EGP74.38 per share, MCap: USD684mn, HELI EY / HELI.CA