21 January 2015
Agreement to provide facilities management services to all projects developed by Palm Hills across Egypt

EFS Facilities Services Group (EFS Group), headquartered in Dubai, a leading Integrated Facilities Management (FM) service, operation and maintenance solution provider across the Middle East, Africa and South Asia (MEASA) region, signed a landmark Memorandum of Understanding (MoU) with Palm Hills Development (PHDA.CA), a pioneer in real estate development across Egypt through its' subsidiary EFS Facilities Services Egypt Ltd (EFS Egypt).  EFS Egypt will be the exclusive facilities services provider for all developments belonging to Palm Hills which has 18 projects distributed in several areas in Egypt, in addition to having bought land for development in Saudi Arabia.

Palm Hills Development (PHD) is a leading real estate company in the Egyptian market, primarily developing integrated residential, commercial real estate and resort projects since 1997. Presently, Palm Hills Development possesses one of the largest land banks in Egypt and is rapidly growing into a regional player, thanks to a geographically diversified land bank suitable for the development of a broad range of real estate products all fashioned to reflect the country's culture as well as the clients' lifestyle and prerequisites.

The MOU was signed in Cairo, Egypt by Yaseen Mansoor, Chairman of PHD and Tariq Chauhan, Group CEO of EFS Facilities Services Group Ltd and will be effective by the first quarter of 2015.

Mr. Yaseen declared "this is the first time in Egypt that a pioneer real estate development company like Palm Hills has entered into an agreement with a specialized facilities management company for providing quality facilities services across all its projects with the objective to provide better services for residents". He further added that "the agreement between Palm Hills and EFS Egypt will enable Palm Hills to achieve and maintain the highest quality of standards that differentiates its projects by ensuring that the residents in its communities receive a comprehensive solution.

EFS Egypt will be responsible for the provision of an integrated facilities management solution that include services required for the management, operation and general preservation of common assets and buildings within the communities.  This includes the integration of multi-disciplinary activities to provide maintenance support, project management and user management throughout the asset life cycle.

"Facilities Management is a tool that offers the required services to the residents and the overall community that is currently missing in projects across Egypt where there is significant investments in long term assets. It is one of a kind agreement that demonstrates the strategic and visionary management at Palm Hills as they seek to offer un-parallel benefits to its residents through a market leader like us" said Tariq Chauhan.

"This agreement will signify a starting point in Egypt for EFS in this promising market and strengthen our position as one of the leaders in the MEASA region in the FM market." said Tariq Chauhan.

Palm Hills has been successful in transforming from one successful project to becoming the most important and largest real estate developer in Egypt while EFS Group is a leading integrated facilities management service provider with operations across 21 countries.

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About EFS Facilities Services Group Ltd
EFS Facilities Services Group Ltd is the holding company of facilities management companies across the Middle East, Africa and South Asia region operating under the EFS brand. EFS Group offers integrated services in the field of Facilities Management and operations & maintenance solutions across 21 countries.  The company was the winner of the prestigious award of "Best Facilities Management Company" twice; it currently manages more than 300 projects with a net worth of more than USD 650 Million; it also employs more than 10,000 Facilities Management specialists. The company's regional success factor is due to attracting and retaining staff from different cultures, races and experiences, resulting in overall knowledge and the outcome of local, regional and global experiences in the company.

The Company's comprehensive service offering includes bundled service packages of integrated FM solutions that are customizable and able to cater to an array of commercial, residential, and industrial facilities. EFS Group's integrated FM solutions offer a centralized and organized approach for facilities management that can result in greater cost savings, energy efficiency, preventative and reactive maintenance solutions, and standardized pricing allowing client's financial and operational optimization with respect to the overall management of their facilities.

About Palm Hills Development
Palm Hills Developments is a leading real estate company in the Egyptian market, primarily developing integrated residential, commercial real estate and resort projects. Palm Hills was originally established in 1997 for real estate, by Mansour and Maghraby Investment and Development (MMID), the company, which is listed on the Cairo-Alexandria Stock Exchange and the London Stock Exchange, was the result of a vision to create self-sufficient communities through the utilization of integrated tools. Presently Palm Hills Developments possesses one of the largest land banks in the country and is rapidly growing into a regional player, thanks to a geographically diversified land bank suitable for the development of a broad range of real estate products all fashioned to reflect the country's culture as well as the clients' lifestyle and prerequisites.

Currently, Palm Hills Developments maintains an impressive roster of 18 projects, strategically located nationwide. In the years since, Palm Hills Developments has grown to become Egypt's leading real estate developer, with one of the largest land banks in the nation. Having expanded from its original mandate -- residential developments -- Palm Hills Developments' strategy now includes commercial and hospitality developments.

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© Press Release 2015