Palm Hills Development eyes injecting funds into Badya by end-2021
The first phase of the project includes nearly 3,300 units
Residential buildings are seen in the New Administrative Capital (NAC) east of Cairo, Egypt March 8, 2021.
REUTERS/Mohamed Abd El Ghany
By Staff Writer, Arab Finance
ArabFinance: Palm Hills Development Company (PHDC) is planning to boost its investments in the first phase of Badya project, located in the 6th of October city, to reach EGP 1 billion by the end of 2021, the company’s Senior Vice President Ahmed Atallah told Al Borsa Newspaper.
The real estate developer has pumped up to EGP 600 million in Badya project so far, Atallah remarked.
Moreover, the company is seeking to deliver 1,000 units in Badya during 2022, he noted.
The first phase of the project includes nearly 3,300 units at an investment cost of EGP 6 billion, Atallah added.
Spanning 3,000 acres, Badya project is being developed by Palm Hills Development in partnership with the New Urban Communities Authority (NUCA).
Palm Hills 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.
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.
Get Zawya's daily newsletter for insightful and exclusive Middle East perspectives on business and finance. SUBSCRIBE NOW