Egypt’s real estate developer Palm Hills Developments studies developing a new project across 100 or 200 acres in New Mansoura city and is currently preparing the project’s feasibility studies, Invest-Gate reports.

Tarek Elghamrawy, real estate portfolio director at Palm Hills, told Invest-Gate on March 24 that the property developer is planning to sign partnership agreements with a private company in the coming period to manage some of the service projects within Badya project in West Cairo, a co-development with the state.

Elghamrawy pointed out that Badya is one of the largest projects located in west Cairo, in terms of the number of units, as well as, commercial and entertainment facilities present within the compound.

In addition, the portfolio director disclosed that the company has no intentions to acquire further lands in New Cairo and Sheikh Zayed – or east and west Cairo- due to the fact that Palm Hills already has a reasonable land bank in those areas.

Palm Hills’ land bank includes 5 mn square meters in Saudi Arabia and 45 mn square meters in Egypt, he noted.