ArabFinance: Palm Hills Development Company (PHDC) reported a 35% year-on-year increase in new sales during 2021, marking its highest growth in history, according to a press release.

The leading Egyptian real estate developer has recorded new sales of EGP 17.3 billion in 2021, exceeding its previously announced target of EGP 15 billion.

Higher sales were backed by the 82% YoY hike in the number of sold units, which reached 3,350 in 2021 as compared to 1,840 units in 2020.

Meanwhile, residential sales jumped by 41% YoY to EGP 15.3 billion, of which sales from Badya accounted for 26%.

Sales from Badya soared by 316% YoY in 2021, recording EGP 4 billion after 1,048 units were sold, as compared to 311 sold units in 2020.

Moreover. Commercial sales stood at EGP 2 billion last year, registering a growth rate of 3% YoY.

Furthermore, Palm Hills Development’s spending on construction activities grew by EGP 1.2 billion to reach EGP 2.7 billion in 2021.

The company has delivered up to 1,308 units in 2021, up by 107% from 633 units in 2020.

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.

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