Palm Hills Plans to Invest EGP 2 bn in 2018

Palm Hills Plans to Invest EGP 2 bn in 2018

Palm Hills Developments (PHD) plans to invest EGP 2 bn in 2018 for financing existing projects and new ones, Al-Mal reports.

PHD has 29 real estate projects; 12 delivered projects and 11 under-developed projects. The delivered projects include 3,480 housing units; whereas the in-progress projects include 4,650 delivered units and 1,217 units to be delivered in 2018 and 2019.

The company’s land portfolio has reached 41 mn square meter, in different phases of development.

Concerning the commercial activity of the company, Tarek Abdulrahman, PHD’s chief executive, said  that it accounts for 14% of the company’s revenues and is expected to reach 25% during the next three years.

PHD targets EGP 6.8 bn in revenues this year, compared to its EGP 6.6 bn revenues in 2017.



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