Palm Hills Developments

The Company is primarily engaged in developing integrated residential, commercial real estate and resort projects. It operates through subsidiaries in Egypt and abroad. Its projects include Palm Hills October, Palm Parks, the Palm Club, and CASA. PHDC owns 11 subsidiaries and has also entered into strategic partnerships to pursue development projects on its well-diversified land bank: 47.8mn sqm spread all over Egypt.
Financial Performance:
In order to enhance the company.s cash position following allegations against its former chairman Yaseen Mansour, PHDC announced plans to reduce existing land liability by 50% by returning selected raw land plots to GoE and using the installments paid for these selected plots to settle other land plots. liability. The company requested to return a land bank in Sixth of October City to the New Urban Communities Authority amounting to c.800k sqm.