ArabFinance: Al Taamir is in discussions to manage Palm Hills Developments (PHD) planned securitization issuance worth EGP 650 million, Al Mal News quoted Al Taamir Chairman Mazen Hassan as saying.
The PHD’s securitized bonds are expected to receive regulatory approval by the end of January to be issued this quarter, Hassan said.
Hassan added that the company is looking to issue EGP 2 billion asset-back securities in 2021.
In 2020, Al Taamir implemented securitization operations worth EGP 20 billion in favor of the New Urban Communities Authorities.
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 company’s operations.
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