Palm Hills New Cairo Units Phase 1 Sell Out for EGP 1.01 bn

Wednesday, 23rd November 2016

Palm Hills Development sold 100% of the 157 standalone units from its Palm Hills New Cairo project, developed in partnership with the New Urban Communities Authority (NUCA), for a total of EGP 1.01 bn in sales revenue, according to a company statement on Tuesday.

The 2.1 mn square meter development features 100 acres targeted for commercial properties; with the construction of units set to begin in 2017 to meet the schedule of delivering all units by 2021.

The units selling out indicates strong demand on the company’s product offerings, according to Tarek Abdel Rahman, the company’s Co-Chief Executive Officer.

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