Madinet Nasr Housing and Development (MNHD) and Palm Hills Developments have signed an MoU to develop a 433,643sqm land plot with a built up area (BUA) of 484,100sqm.   

The land-plot is located in Madinet Nasr Housing’s KM45 project (total land of 5.5msqm) at the Cairo-Suez desert highway.

As per the agreement, Palm Hills will pay 36% of total revenues to Madinet Nasr Housing as land cost and will do the construction, selling & marketing; while Madinet Nasr Housing will provide the land and infrastructure for the land plot.

The project is estimated to generate revenues between EGP 4.5-5.5 billion over the next 10 years- with the first phase of the project to be finished over four years.