ArabFinance: Palm Hills Developments' (PHD) board of directors agreed on securitization issuance worth EGP 800 million, according to the companys filing on April 28th.
The real estate developer has transferred its financial rights and deferred payment dues to Sarwa Securitization.
On November 29th 2020, PHD closed the first transaction of an EGP 1.25 billion securitized bond issuance.
The real estate developer reported a 15% Year on Year decline in its consolidated net profit in 2020, recording EGP 717.76 million.
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.
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