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EGX-listed Palm Hills Developments (PHD) has raised 2.015 billion Egyptian pounds ($42.96 million) through a securitised bond issuance, the first tranche under its EGP 30 billion ($638 million) securitisation programme.
The funding will be used to expedite construction on its projects, the developer said in a statement.
The bond issuance was structured into four tranches: EGP 423.15 million with a 13-month tenor; EGP 906.75 million with a 36-month tenor; EGP 594.425 million with a 60-month tenor; and EGP 90.675 million with an 84-month tenor.
EFG Hermes acted as the sole financial advisor, sole bookrunner, and underwriter for the transaction.
Maie Hamdy, Managing Director, Debt Capital Markets at EFG Hermes, said the successful execution of this transaction reflects the continued depth of investor appetite for high-quality and well-structured real estate-backed instruments.
Ali Thabet, Chief Financial Officer of Palm Hills Developments, said the company is looking for another transaction within the securitisation programme this year.
National Bank of Egypt and Suez Canal Bank participated as underwriting banks. Arab Banking Corporation and Emirates NBD are also subscribers to the issuance.
In December 2025, Reuters reported that Palm Hills plans to start construction of its $5.4 billion Saadiyat Shores residential community in Abu Dhabi in April or May 2026. The report said the company is in talks on possible developments in Saudi Arabia, with Riyadh and Jeddah under study.
(Writing by P Deol; Editing by Anoop Menon)
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