Palm Hills Development Co SAE (PHDC)

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News

21 January 2020 06:41 PM Palm Hills signs EGP 505m facility agreement with AUB Egypt

Cairo – Mubasher: Palm Hills Development Company has signed an EGP 505 million short-term facility agreement with Ahli United Bank (AUB) Egypt, according to a bourse statement released on Tuesday. The company announced that it will use the …

Companies Investments

18 December 2019 11:50 AM Palm Hills approves EGP 1.1bn facility from CIB

Cairo – Mubasher: The board of directors of Palm Hills Development Co approved the offer presented by the Commercial International Bank – Egypt (CIB) for a medium-term facility worth EGP 1.099 billion. The facility will be used to repay a …

Real estate

3 December 2019 05:46 PM Palm Hills Alexandria Phase II launched with EGP 5.1bn investments

Cairo – Mubasher: Palm Hills Development Co announced the launch of the second phase of Palm Hills Alexandria with investments of EGP 5.1 billion. Situated over 135 feddans on the coastal road, the project features residential units, commercial …

Real estate

17 November 2019 11:04 AM Palm Hills’ profit falls 15% in 9M on lower revenue

Cairo – Mubasher: Palm Hills Development Co reported a 15% year-on-year profit decline during the first nine months of 2019. Net profits dropped to EGP 544.3 million in the January-September period, compared to EGP 640.2 million in the year-ago …

Financial Results

22 October 2019 11:31 AM Palm Hills, Sarwa Capital conclude EGP 776m securitisation bond

Cairo – Mubasher: Palm Hills Development Co and Sarwa Capital have concluded the fourth securitisation bond at a value of EGP 776 million, backed by a receivables portfolio that includes 582 delivered units. “The three tranches received ratings of …

Companies Investments

30 September 2019 04:06 PM Palm Hills opens 2 hotels in North Coast with EGP 300m investments

Cairo – Mubasher: Palm Hills Development Co has invested EGP 300 million in the growing tourism industry in Egypt with the inauguration of two new hotels in the North Coast. Located in Hacienda White, Mazeej hotel has been launched by Palm Hills …

Companies Investments

23 September 2019 00:05 PM Palm Hills selects Sarwa to execute EGP 320m securitisation deal

Cairo – Mubasher: The board of directors of Palm Hills Development Co approved the execution of a securitisation transaction worth EGP 320 million with Sarwa Securitization. Some members of the board of directors were selected to sign the deal …

Real estate

11 September 2019 04:16 PM Palm Hills invests EGP 800m in Badya to date

By: Abdullah Bedeir Cairo – Mubasher: Palm Hills Development Co has invested about EGP 800 million in Badya project in Sheikh Zayed to date, the company’s chairman Yasseen Mansour said. Such amount has been used to finance the project’s design and …

Real estate

11 September 2019 00:09 PM Palm Hills inks deal with German firm to manage Badya’s phase 1A

Cairo – Mubasher: Palm Hills Development Co announced signing a service agreement with Julius Berger International GmbH (JBI) to manage phase 1A of Badya project in Sixth of October City. Under the deal, JBI will provide all project management …

Real estate

11 September 2019 10:37 AM Palm Hills in talks with foreign banks over EGP 2bn loans

By: Abdullah Bedeir Cairo – Mubasher: Palm Hills Development Co is in negotiations with foreign banks to obtain loans valued between EGP 1.5-2 billion to finance the first phase of Badya project in Sheikh Zayed, the real estate developer’s …

Banking and Finance

5 September 2019 11:56 AM Palm Hills saves EGP 70-80m annually from interest rate cut

Cairo – Mubasher: Palm Hills Development Co said that slashing interest rates by 150 basis points is forecast to save the company between EGP 70-80 million annually in interests, financing costs and land liabilities. The real estate developer …

Real estate

4 September 2019 06:32 PM Beltone Research sets Palm Hills Development's FV at EGP 4.8/shr

Cairo – Mubasher: Beltone Research has set the fair value of Palm Hills Development at EGP 4.8 per share, with an ‘Overweight’ recommendation, according to a report released on Wednesday. The research company referred to improvement in the …

Trading Activities

4 September 2019 00:03 PM Palm Hills H1 profit inches up despite lower sales

Cairo – Mubasher: Palm Hills Development Co. reported a slight profit rise year-on-year during the first half of 2019 despite lower revenues. The Cairo-based leading property developer’s profit increased to EGP 451.47 million in the six-month …

Financial Results

24 August 2019 08:30 PM Interest rate cut to boost 8 stocks on EGX

Cairo – Mubasher: The Central Bank of Egypt’s (CBE) decision to cut interest rates is expected to have a positive impact on the liquidity of the Egyptian Exchange (EGX), according to a report released by Beltone Research on Saturday. The cut of …

Trading Activities

4 July 2019 04:54 PM EGX-listed real estate firms post EGP 6.6bn revenues in Q1

By: Abdullah Bedeir Cairo – Mubasher: Revenues of real estate companies listed on the Egyptian Exchange (EGX) grew by 5.49% year-on-year during the first quarter of 2019, according to statistics conducted by Mubasher. From January to March, …

Real estate

13 June 2019 11:29 PM Beltone Research sets Palm Hills stock’s FV at EGP 4.82

Cairo – Mubasher: Beltone Research has set the fair value (FV) of Palm Hills Development Company’s stock at EGP 4.82 per share, with ‘Overweight’ recommendation. The research company ascribed its decision to a 5% year-on-year increase in Palm …

Stock Evaluations

11 June 2019 11:27 AM Palm Hills Q1 consolidated profit drops 37%

Cairo – Mubasher: Palm Hills Development Co, a leading property developer based in Cairo, announced it has logged a consolidated net profit of EGP 141.161 million during the first quarter of 2019, down 37.02% from EGP 224.151 million in Q1-18. …

Real estate

4 April 2019 02:14 PM Palm Hills OKs EGP 78m capital hike for reward, motivation system

Cairo – Mubasher: Palm Hills Development Co’s extraordinary general meeting (EGM) has agreed to raise the company’s issued capital by EGP 78 million to finance the reward and motivation system for employees. The issued capital will be raised to …

Real estate

24 March 2019 03:51 PM Palm Hills seeks gov’t partnership to buy land in New Mansoura

By: Abdullah Bedier Cairo – Mubasher: Palm Hills Development Co is seeking the Egyptian government’s partnership to buy a land plot ranging between 100 and 200 acres in New Mansoura city, the company’s real estate portfolio director told reporters …

Macroeconomics

24 March 2019 00:11 PM Palm Hills, NUCA to build mixed-use project in Sheikh Zayed

Cairo – Mubasher: Palm Hills Development Co on Sunday announced that its subsidiary Arkan Palm has signed a contract with the New Urban Communities Authority (NUCA) to develop a mixed-use innovative urban project in Sheikh Zayed City. Spanning 205 …

Real estate

6 March 2019 05:57 PM Palm Hills, Sarwa Capital close EGP 760m securitisation bond issue

Cairo - Mubasher: Palm Hills Developments (PHD) on Wednesday announced closing its latest securitisation bond issue with Sarwa Capital Holding for Financial Investments. The closed bonds are backed by the receivables portfolio of 670 delivered …

Companies Investments

27 February 2019 05:44 PM Palm Hills spends EGP 1.64bn capital-increase returns in 2018

Cairo – Mubasher: Palm Hills Development Co. has announced that it spent all the returns of its capital increase subscription until December 2018, which stood at EGP 1.64 billion ($94 million). Around EGP 250 million of these returns were paid to …

Companies Investments

27 February 2019 02:19 PM Palm Hills eyes EGP 14bn sales in 2019

Cairo – Mubasher: Palm Hills Development on Wednesday announced plans to increase sales to EGP 14 billion ($0.80 billion) in 2019. The Cairo-based real estate firm aims to raise activity revenues by EGP 7.5 billion this year, with a higher profit …

Real estate

27 February 2019 11:15 AM Palm Hills generates EGP 906m profit in 2018

Cairo – Mubasher: Palm Hills Development Company reported a 3% year-on-year drop in consolidated profits during the full-year 2018. The firm's net profits reached EGP 906.8 million in 2018, compared to EGP 936.47 million in 2017, including …

Real estate

20 February 2019 00:28 PM Palm Hills to liquidate unit at DMCC

Cairo – Mubasher: Palm Hills Development Co’s board of directors has decided to liquidate its arm Palm hills International, based in the Dubai Multi Commodities Centre (DMCC). The Egyptian real estate firm will assign AI Jeroudy Accounting& …

Real estate