Latest in Tag: Palm Hills Highlight
Latest in Tag: Palm Hills
A banking alliance consisting of Banque Misr and the National Bank of Egypt (NBE) signed a long-term joint financing contract for Palm Investment and Real Estate Development Company, a subsidiary of Palm Hills Developments with a value of EGP 2.5bn. Banque Misr will act as the first main arranger, finance marketer, and financing agent, while …
The formal announcement of the appointment follows the Board of Directors’ approval on 30 May 2021.
MMID also sells 11% stake in East New Cairo for Real Estate Development to Palm Hills
Company has concluded securitisation of EGP 1.5bn in receivables in Q4 of 2020
Company expects to engage in further securitisation transactions in 2021, says Chairperson
Net Profit for the quarter grew 156% y-o-y, reaching EGP 238m, complemented by positive cash flows from operations of EGP 1.1bn.
The announcement was made in UPP’s official financial statements for the third quarter (Q3) of 2020, noting that it was undertaking extensive discussions with the counterparty.
NBE Vice Chairperson Yehia Aboul Fotouh said that the contract comes in light of the bank’s keenness to finance major projects in general. The bank is particularly focusing its financing activities on the real estate field, due to this sector’s ability to preserve its medium- and long-term investment value.
Upcoming securitisation transactions to account for EGP 1.5bn in gross receivables portfolio during Q4 of 2020, says Yaseen Mansour
Subject to regulatory and corporate approval, the joint venture will establish the university’s campus over a targeted land area of 100,000sqm in Badya, which is strategically located in the heart of West Cairo.
The syndicated credit facility will partially finance the investment cost of Hacienda Bay, one of the real estate developer’s major projects in the North Coast, according to a statement to the Egyptian Exchange on Thursday.
Mansour added that this move comes in line with the PHD’s strategic direction towards leverage optimisation, reducing financing costs and cash flow enhancements.
It is noteworthy that the company announced two days ago a prospectus for choosing the strategic investor whose shareholding is scheduled to be 10% of the company, provided that the selection will be in early November
The hotel is a collaboration with Palm Hills Developments and G’nK Hospitality to comply with the national strategy to promote and facilitate international tourism, according to the issued press statement.
Company plans to begin implementation of Badya in 2Q19
Palm Hills Developments announced, on Sunday, that that its subsidiary, Arkan Palm for Real Estate Investment Company, of which Palm Hills owns 40% stake, signed a mixed-use co-development agreement with the New Urban Communities Authority (NUCA) on a revenue sharing basis. The project will be built over 205 feddan in Sheikh Zayed City. It will …
Palm Hills Developments has achieved EGP 12.5bn sales in its project with an increase of 18% Y-o-Y, according to consolidated financial statements for the last quarter (Q4) of 2018. The statement said that the company has succeeded in selling 3,102 units in fiscal year (FY) 2018, compared to 2,136 units in FY 2017. The company …
85% of real estate sales were for investment purposes in 2018, says Tatweer Misr’s MD
The school is set to be launched by 2020 and accommodating approximately 2,800 students.
Company will offer Capital Gardens, The Crown projects at Cityscape exhibition
Company expects to achieve total sales of EGP 12bn by end-2018, says co-CEO
Company aims to achieve EGP 12bn in sales during 2018
Some land-acquiring problems for integrated housing city in Ghana prevent project launch next year
Sales up 44% in 9 months, despite deliveries down 27%
Strengthening the pound on the short term threatens the Egyptian economy
Ministry contributes by land in return for 26% of revenues: Minister of Housing
New project primarily puts the company as the largest real estate developer in Egypt in terms of sales value and land size: Mansour
Beltone, Pharos, and Prime recommend buying the stock, fair value estimated at EGP 3.47-4.2
Middle-income housing accounts for 25% of market needs, says Palm Hills CEO
Palm Hills plans to apply for new plots of land in West Cairo on areas ranging from 150 to 200 acres, says Yasseen Mansour