Palm Hills Developments announces the implementation of 2,759 new units in Badya diverse between 148 buildings, 1959 housing units, and 800 villas, Invest-Gate reports.

Palm Hills Developments (PHD) converts its 200-room tourist complex to a quarantine facility- all expenses covered- to the Ministry of Health, Invest-Gate reports.

UAE-based UPP Capital Investment, the investment arm of Union Properties, has acquired 5.55% stake of the total shares of Egypt’s Palm Hills Development (PHD), at a total cost of EGP 525.3 mn, averagely EGP 4.1 per share

Egypt’s real estate developer, Palm Hills Developments (PHD), signs a syndicated medium term loan agreement worth EGP 852 mn with the aim of partially financing the recently-acquired 190 feddans in West Cairo, Invest-Gate reports.                       

Palm Hills Development PHD acquired 190 acres of land from the Egyptian Ministry of Housing located adjacent to the Company's existing developments in West Cairo, including Palm Hills Golf Views and Golf Extension

Palm Hills Development sold 100% of the 157 standalone units from its Palm Hills New Cairo project, developed in partnership with the New Urban Communities Authority (NUCA), for a total of EGP 1.01 bn in sales revenue.

Palm Hills Development will postpone the launch of its projects to avoid cannibalizing sales, in light of its wide geographical expansion and diverse projects, according to Mohamed Marei, Equity Research Analyst at Prime Holding.

Palm Hills announced its financial results for the third quarter of 2016 in a statement, reporting net profit after tax and minority interest of EGP 235 mn, up 59% year-on-year, exceeding the first two quarters of the year combined. Quarterly revenue was up 34% year-on-year to EGP 1.5 bn.

The New Urban Communities Authority (NUCA) will partner with Palm Hills Developments and Arabia Group to develop two real estate projects next month.