Palm Hills Developments (PHD) will create an integrated residential community in Alexandria encompassing 135 acres near the Al Nozha International Airport to be finalized by the end of 2017, Invest-Gate reports.
The company will carry out all construction works, development, infrastructure, marketing and sales following its completion of the masterplan of units and apartments.
The project will include several amenities such as a community club, school, and commercial facilities.
“I believe that Alexandria is an untapped market with a huge potential. Competition is basically non-existent in Egypt’s second-largest city, which has not seen major real estate residential development for the last 20 years–the company will be the first major developer to enter the Alexandrian market,” says PHD Chairman Yasseen Mansour in the company’s released statement.