Heliopolis Company for Housing & Development (HELI) is 72.3% owned by the state through the Holding Company for Construction & Development (HCCD), a subsidiary of Ministry of Public Business Sector. With more than 100 years of experience, HELI is considered one of the oldest real estate developers in Egypt. It was established in 1905 by the Belgian engineer Baron Empain in order to develop Heliopolis suburb, known as "Masr Al Jadidah", in the northeast of Cairo. HELI's main role was to work as a master developer for Heliopolis district through preparing land plots and providing them with the infrastructure ans selling these plots to be developed by others. Currently, Heliopolis district is one of the most well-known districts in Cairo and Egypt as a whole that is inhabited by the upper-middle and high-end sedment.