Palm Hills to Pump EGP1 billion in Cairo, North Coast Projects

Egypt’s second largest real estate developer Palm Hills Developments (PHD) (PHDC.CA) is planning to pump an amount of one billion Egyptian pounds during 2014, seeking to bolster its current projects in eastern and western Cairo as well as in North Coast.

Tarek Abdel Rahman – Chief Investment Officer at Palm Hills – told Amwal Al Ghad that the planned investments reflect the company’s confidence in the real estate investment climate in Egypt within the upcoming periods.

He also noted that pumping new investments will enable Palm Hills to speed up the implementation of its current projects so as to be delivered to their clients.

Moreover, Abdel Rahman has stressed on the legal standing of Palm Hills’ lands in eastern and western Cairo as well as in North Coast.

Within the first quarter of 2014, Palm Hills is intending to deliver a number of its housing units in eastern and western Cairo as well as in North Coast to its clients.