Palm Hills Development achieves EGP 6.8 bn in new sales during the first quarter (Q1) of 2023, a 22% increase compared to EP 5.5 bn in the year-ago period, Invest-Gate reports.

Badya project’s sales surge by 54% YoY to EGP 2.9 bn for 442 units in Q1.

Sales from Palm Hills Alexandria increases by 156% YoY to over EGP 1 bn in the first three months of 2023.

Palm Hills Development’s spending on construction amounts to EGP 1.2 bn in Q1,  while unsold units reached a value of EGP 3.7 bn in the same period.

Furthermore, consolidated revenue soars 22% YoY to EGP 3.5 bn while total sales jump by 24% to EGP 1.1 bn.

On Wednesday, Yassin Mansour, chairman of Palm Hills Development Co., says the company’s sales rose 22% in the first quarter, driven by a 54% increase in sales at the Badya development.

“Badya accounted for 35% of Palm Hills’ total sales last year, and this percentage is expected to increase in 2023,” Mansour reveals in an interview on the Kalima Akhera “Last Word” program on the ON E TV channel.