Palm Hills Development Co SAE (PHDC)

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News

3 October 2023 03:27 PM Palm Hills unveils development project with EGP 85bn estimated sales

Cairo – Mubasher: Palm Hills Developments Company acquired 374 feddan from the New Urban Communities Authority (NUCA) adjacent to the company’s flagship district Palm Hills October, according to a bourse disclosure. The development project will …

Real estate

24 August 2023 01:31 PM Palm Hills achieves EGP 639m consolidated profits in H1-23

Cairo – Mubasher: Palm Hills Developments Company recorded consolidated net profits after tax worth EGP 638.82 million in the first half (H1) of 2023, versus EGP 561.79 million in H1-22, including minority shareholders’ rights. The real estate …

Financial Results

4 June 2023 08:31 AM Palm Hills unveils Q1-23 financial results; capital reduction approved

Cairo – Mubasher: The consolidated net profits after tax and minority interest of Palm Hills Developments Company stood at EGP 252.67 million in the first quarter (Q1) of 2023. The recorded net profits were lower by 14% year-on-year (YoY) than an …

Management Decisions

5 March 2023 02:46 PM Palm Hills generates EGP 1.29bn consolidated profits in 2022

Cairo – Mubasher: Palm Hills Developments Company registered consolidated net profits after tax worth EGP 1.29 billion in 2022, an annual hike from EGP 856.06 million, including non-controlling equity. The revenues jumped to EGP 13.60 billion last …

Financial Results

23 January 2023 02:13 PM Palm Hills proposes capital cut; approves EGP 150m deal with Incolease

Cairo – Mubasher: Palm Hills Developments’ board approved unanimously submitting a proposal to the extraordinary general meeting (EGM) for an EGP 120 million issued and paid-up capital cut through the cancellation of 60 million treasury stocks at …

General Assembly

10 November 2022 00:10 PM Palm Hills’ consolidated profits exceed EGP 910m in 9M-22

Cairo – Mubasher: Palm Hills Developments reported EGP 910.86 million in consolidated net profits after tax during the first nine months (9M) of 2022, a surge from EGP 635.78 million in the same period in 2021. Earnings per share (EPS) reached EGP …

Real estate

18 August 2022 05:09 PM Palm Hills’ consolidated profits up 13% in H1-22

Cairo – Mubasher: Palm Hills Developments has logged consolidated net profits after tax worth EGP 561.79 million during the first half (H1) of 2022, an annual increase of 13% from EGP 495.70 million, including minority interest. Revenues jumped by …

Real estate

31 May 2022 01:56 PM Palm Hills sees higher profits in Q1-22

Cairo – Mubasher: Palm Hills Developments has reported consolidated net profits worth EGP 305.80 million in the first quarter (Q1) of 2022, versus EGP 217.39 million, including minority shareholders’ rights. The revenues amounted to EGP 2.90 …

Financial Results

20 April 2022 05:29 PM Palm Hills raises stake in Incolease to 18%

Cairo – Mubasher: Palm Hills Developments has increased its 15.35% stake in the International Company for Leasing (Incolease) to 18.23%. The real estate developer purchased 576,001 shares from the latter in exchange for EGP 23.61 million at an …

Real estate

3 April 2022 03:26 PM Palm Hills’ OGM nods to EGP 304m dividends

Cairo – Mubasher: The ordinary general meeting (OGM) of Palm Hills Developments has approved a cash dividend distribution of EGP 0.10 per share for 2021. The cash dividend payout aggregates at a total value of EGP 304.06 million, according to a …

Cash Dividends

14 March 2022 11:26 AM Palm Hills to issue EGP 3.25bn Sukuk

Cairo – Mubasher: The extraordinary general meeting (EGM) of Palm Hills Developments has approved the issuance of a Sharia-compliant Sukuk worth EGP 3.25 billion, in cooperation with Tharwa Securitization Company. Through the Sukuk issuance, the …

Companies Investments

8 March 2022 02:11 PM Palm Hills acquires 8% stake in Incolease

Cairo – Mubasher: Palm Hills Developments has acquired a 7.97% stake in the International Company for Leasing (Incolease) in exchange for EGP 65.35 million. Palm Hills has acquired 1.59 million shares in Incolease at a price of EGP 41 per share, …

Companies Investments

8 March 2022 01:13 PM Palm Hills’ net profits increase 14% in 2021; dividends proposed

Cairo – Mubasher: The consolidated net profits of Palm Hills Developments increased by 14.26% to EGP 856.06 million in 2021, compared to EGP 749.17 million in 2020, including minority shareholders' rights. The company's revenues jumped by 48% …

Cash Dividends

16 February 2022 11:35 AM Palm Hills' board approves Sukuk issuance for Badya, capital cut

Cairo – Mubasher: The board of Palm Hills Developments has approved Sharia-compliant Sukuk issuance worth EGP 3.25 billion to finance Badya project, in cooperation with Sarwa Capital. The board also agreed on the disclosure form to reduce capital …

Sukuk and Islamic Finance

2 December 2021 00:15 PM Palm Hills closes seventh securitisation bond issuance worth EGP 1.05bn

Cairo – Mubasher: Palm Hills Developments (PHD) has completed its seventh securitisation bond issuance backed by a receivables portfolio of around EGP 1.05 billion, in cooperation with Sarwa Capital, a subsidiary of Contact Financial Holding. …

Bonds

16 November 2021 01:32 PM Palm Hills’ net profits surge 24% in 9M

Cairo – Mubasher: Palm Hills Developments achieved a net profit after tax and minority interest worth EGP 635.49 million during the first nine months of 2021, a year-on-year (YoY) increase of 24% from EGP 514.54 million, according to the …

Financial Results

17 October 2021 00:48 PM Palm Hills' board approves EGP 1.1bn securitisation issuance

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 …

Corporate Actions

27 September 2021 10:55 AM Palm Hills Developments inks EGP 2.5bn syndicated loan deal

Cairo – Mubasher: Palm Hills Developments announced that its wholly-owned subsidiary Palm Hills for Investments and Real Estate Development signed a syndicated loan agreement worth EGP 2.5 billion with Banque Misr and the National Bank of Egypt …

Banking and Finance

22 September 2021 05:50 PM Palm Hills Developments spends all capital raise proceeds at EGP 1.5bn

Cairo – Mubasher: Palm Hills Developments has spent the total proceeds of its capital raise subscription listed on 30 December 2018, amounting to EGP 1.53 billion.  A total of EGP 558 million has been invested in the development of Badya project …

Companies Investments

18 August 2021 10:39 AM Palm Hills Developments records 76% profit surge in H1-21

Cairo – Mubasher: Palm Hills Developments reported net profits of EGP 495.51 million in the first half (H1) of 2021, up by 75.6% year-on-year (YoY) from EGP 282.04 million, including minority shareholders' rights.  The property developer's net …

Financial Results

3 August 2021 01:27 PM Palm Hills Developments approves credit facility deals with AAIB

Cairo - Mubasher: The ordinary general meeting (OGM) of Palm Hills Developments approved the signing of an agreement with Arab African International Bank (AAIB) as well as other agreements with subsidiary and sister companies.  The company's …

Banking and Finance

15 June 2021 01:59 PM Palm Hills’s Q1 net profits jump 152%

Cairo – Mubasher: Palm Hills Developments recorded a leap of 152% in consolidated net profits after tax and minority interest to EGP 204.62 million during the first quarter (Q1) of 2021 from EGP 81.26 million in Q1-20. Earnings per share amounted …

Financial Results

8 June 2021 04:51 PM Palm Hills closes securitisation bond backed by EGP 1.2bn receivables

Cairo – Mubasher: Palm Hills Developments (PHD) announced the closing of its sixth securitisation bond issuance in collaboration with Sarwa Capital, a subsidiary of Contact Financial Holding. The issuance is backed by a portfolio of receivables …

Bonds

1 June 2021 10:54 AM Palm Hills Developments hires new Co-CEOs, Managing Directors

Cairo – Mubasher: Palm Hills Developments (PHD) has appointed Hazem Badran and Tarek Tantawy as Group Co-CEOs and Managing Directors, following the approval of the board of directors on 30 May. “Yasseen Mansour will continue as the Executive …

Board of Directors

28 April 2021 11:19 AM Palm Hills Developments approves EGP 800m securitisation issuance

Cairo – Mubasher: The board of directors of Palm Hills Developments (PHD) approved a securitisation issuance worth EGP 800 million. The transaction will be conducted by Tharwa Securitization, PHD said in a bourse disclosure on Wednesday. In 2020, …

Corporate Actions