ArabFinance: Palm Hills Developments (PHD) (PHDC) assigned 50% of its ownership of a 1283 square-meter land plot in the New Sphinx city to the New Urban Communities Authority, according to the company statement filed to the Egyptian Exchange.

PHDs board of directors approved acquiring the stake owned by Al Mansour and Al Maghribi Investment and Development Company in Palm Hills Education.

The real estate developers consolidated net profit recorded EGP 717.76 million in 2020.

PHD is an Egypt-based company that focuses on real estate investment in the new cities and urban communities, land reclamation and cultivation, and other activities associated with the Companys operations.

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