Palm Hills board approves securitisation issuance

The issuance will be conducted by Tharwa Securitization

  
Rendering of the 34-key, 4-suite Mazeej Hotel in Hacienda White on Egypt's North Coast

Rendering of the 34-key, 4-suite Mazeej Hotel in Hacienda White on Egypt's North Coast

Palm Hills Developments handout via Thomson Reuters Projects
Cairo – Mubasher: The board of directors of Palm Hills Developments (PHD) approved a securitisation issuance worth EGP 1.1 billion.

The board has authorised the Chairman individually or the two board members Ali Thabet Farghaly and Amr Hassan Mostafa, collectively, to sign all the contracts and agreements required for this issuance which will be conducted by Tharwa Securitization, PHD said in a bourse disclosure on Sunday.

In the first half (H1) of 2021, the property developer reported net profits of EGP 495.51 million, up from EGP 282.04 million in H1-20, including minority shareholders' rights.

Source: Mubasher

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