ArabFinance: Palm Hills Developments (PHD) board of directors approved a long-term joint financing guarantee worth EGP 2.5 billion for Palm for Investment and Real Estate Development, according to Palm Hills statement filed to the Egyptian Exchange.

This amount will be the investment cost of the full-fledged urban project under name of Palm Hills New Cairo which spans 500 acres in west Madinaty.

Palm Hills posted a consolidated net profit of EGP 461.429 million in half one of 2021.

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.

Copyright 2021 Arab Finance Brokerage Company All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an as is and as available basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.