Egyptian real estate company Palm Hills Developments begins the regulatory procedures of issuing securitization bonds of up to EGP 700 mn, Invest-Gate reports.

The company aims to securitize accounts receivable for housing units worth EGP 2.5 bn, delivered to clients over a period of two to three years.

The move comes as part of the company’s plan to reduce financial leverage and improve its financial position.

The- five-year bonds are expected to be issued before the end of this year.