Palm Hills Development Co SAE (PHDC)

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News

20 December 2018 05:03 PM TMG denies acquiring Palm Hills

Cairo – Mubasher: Talaat Moustafa Group Holding has negated acquiring shares of Palm Hills Development Company. The company negated that it has agreed a share exchange at one for every three shares, according to a filing to the Egyptian Exchange …

Companies Investments

11 December 2018 11:59 AM Palm Hills OKs raising NBE’s loan to EGP1.24bn

The facility will be raised to EGP 1.24 billion from EGP 852 million

Global Economy

10 December 2018 01:34 PM Palm Hills to get additional facility for The Crown

Cairo – Mubasher: Palm Hills Development Co has obtained the approval of seven banks to raise the credit facility limit for its project “The Crown”. The project’s credit facility will reach EGP 1.24 billion, up EGP 388 million from EGP 852 …

Banking and Finance

3 December 2018 00:09 PM Palm Hills raises EGP 991m from 2nd capital hike subscription

Cairo – Mubasher: Palm Hills Development Co has raised EGP 991 million from the second phase of the capital hike subscription.

Global Economy

23 November 2018 05:44 PM Pharos maintains Palm Hills “OW”

Cairo - Mubasher: Pharos Research has maintained its “Overweight” recommendation on the stock of Palm Hills Developments (PHD) with a fair value (FV) evaluation of EGP 5.60 per share. The recommendation is mainly supported by the company’s West …

Ratings

24 October 2018 09:31 AM UAE’s UPP Capital Investment to subscribe to Palm Hills’ capital hike

Dubai – Mubasher: The UAE’s UPP Capital Investment, a subsidiary of Dubai-listed Union Properties, is looking to subscribe to the capital hike of Egypt’s Palm Hills Development Company. UPP Capital Investment is mulling over the capital rise …

Companies Investments

26 September 2018 00:38 PM Palm hills nods to EGP 485m financing offer

Cairo – Mubasher: Palm Hills Development Co’s board has approved an EGP 485 million financing offer made by Arab African International Bank (AAIB) and Banque Misr to develop the Palm Parks project. The board has also agreed to all the terms of …

Real estate

19 August 2018 04:04 PM Palm Hills denies EGP 1bn loan talks with NBE

Cairo – Mubasher:​ Palm Hills Development Co on Sunday denied negotiating fresh credit facilities with the National Bank of Egypt (NBE). Local newspaper Al Shorouk reported that Egypt's largest state-run lender was seeking to arrange as much as …

Company News

1 August 2018 02:51 PM Pharos Research maintains ‘Overweight’ on Palm Hills

Cairo – Mubasher: Pharos Research has reiterated their ‘Overweight’ recommendation on Palm Hills Development Co based on a fair value (FV) of EGP 6.57 per share. The FV was supported by the real estate developer’s portfolio, mainly Badya project, …

Stock Evaluations

1 August 2018 01:17 PM Palm Hills nods EGP 1.53bn capital hike

Cairo – Mubasher: The board of Palm Hills Development Co has agreed to raise authorised, issued, and paid-up capital. The board has approved to boost authorised capital to EGP 10 billion from EGP 6 billion, the property developer said in a filing …

Financial Results

1 August 2018 10:50 AM Palm Hills profit rises 26% in H1

Cairo – Mubasher: Palm Hills Development Co on Wednesday reported a 25.9% year-on-year rise in consolidated profits for the first half of 2018 due to a growth in revenues. Net profit amounted to EGP 439.9 million during H1-18, versus EGP 349.3 …

Real estate

17 July 2018 05:00 PM Palm Hills’ vice chairman resigns

Cairo – Mubasher: Palm Hills Developments (PHD) on Tuesday said its vice chairman Timothy Collins has resigned his post. "I am leaving the Board of PHD as a result of having to manage various competing investments. Having spent a few years with …

Management Decisions

5 July 2018 11:39 AM Palm Hills inks EGP 7bn deal to develop 2 commercial hubs

Cairo – Mubasher: Palm Hills Development on Thursday announced signing two partnership agreements to develop the commercial section for two of its projects. The deals signed with BADR Investments and Al Sharq Company, the executive arm for BADR, …

Companies Investments

15 May 2018 11:57 AM Palm Hills logs EGP 224m profit in Q1

Cairo – Mubasher: Palm Hills Development Co on Tuesday posted a slight rise of 6% year-on-year in its consolidated profits for the first quarter of 2018, recording a net profit of EGP 224 million after tax and minority interest. Revenue stood at …

Real estate

9 May 2018 00:20 PM Palm Hills completes 1st phase of Badya

Cairo – Mubasher: Palm Hills Development Co is planning to develop a fully integrated city with cutting-edge technologies in collaboration with major international firms. Badya project will feature administrative, entertainment, educational, …

Real estate

3 May 2018 11:26 AM Palm Hills, Sarwa Capital close EGP 261m bonds

Cairo – Mubasher: Palm Hills Developments (PHD) on Thursday announced the successful closure of its latest securitised bond issue with Sarwa Capital. The closed bonds are part of an EGP 346 million ($19.6 million) receivables portfolio of 232 …

Real estate

26 March 2018 10:31 AM Palm Hills denies offers to buy Qatari Diar’s Egypt assets

Cairo – Mubasher: Palm Hills Development Company on Monday said it has not presented any offers to buy Qatari Diar Real Estate Investment Company’s land plot of the City Gate project in New Cairo. The Egyptian real estate firm denied news that it …

Companies Investments

20 March 2018 10:30 AM UPP Capital buys AED 110.8m shares in Egypt’s Palm Hills

Dubai – Mubasher: Union Properties revealed on Tuesday that its unit, UPP Capital Investment, took over Aabar Investments’ stake in Egypt’s Palm Hills Development in consideration of AED 110.8 million. Following the closure of the deal, Union …

Mergers and Acquisitions

19 March 2018 05:28 PM UAE investment fund raises stake in Egypt’s Palm Hills

Cairo – Mubasher: UP P Capital Investment, a fund owned by Dubai-listed Union Properties, has raised its stake in Palm Hills Development to 16.51% from 10.96%, Arab African International Securities said on Monday. The purchase involved 128.11 …

Mergers and Acquisitions

19 March 2018 10:34 AM Palm Hills sells 3m shares

Cairo – Mubasher: Palm Hills Development Company’s (PHDC) employee benefits committee has sold around 3 million shares during Sunday’s trade. The Egypt-based real estate firm sold all available shares related to employee benefits’ system, …

Insider Trading & Treasury Stocks

14 March 2018 04:01 PM Palm Hills eyes 16-17% sales by Egyptians abroad in 2018

By: Ahmed Allam Cairo – Mubasher: Palm Hills Development Co is planning to increase its sales to Egyptians abroad to around 16% - 17% of the company’s total sales in 2018, CEO Tareq Abdel Rahman said on the sidelines of a conference held at 6th of …

Companies Investments

7 March 2018 00:26 PM Palm Hills to begin EGP400bn project mid-April

Cairo – Mubasher: Palm Hills Development Co and the Egyptian housing ministry will start executing October Oasis project by mid-April, Alborsa News reported, citing the real estate firm’s chairperson Yassin Mansour as saying. The project will be …

Companies Investments

27 February 2018 06:15 PM Palm Hills eyes EGP 12bn sales in 2018

Cairo – Mubasher: Palm Hills Developments on Tuesday said it was looking to achieve EGP 12 billion in sales as well as EGP 800 million in net profit in 2018. The company also forecast EGP 2 billion in construction expenses and the delivery of …

Financial Results

27 February 2018 11:09 AM UAE's UPP Capital Investment raises stake in Palm Hills

Cairo – Mubasher: The UAE’s UPP Capital Investment, a subsidiary of Union Properties, has increased its stake in Egypt’s Palm Hills Developments to 10.18% from 9.44%, according to a company statement the Egyptian Exchange (EGX).   The UAE-based …

Companies Investments

26 February 2018 01:48 PM Palm Hills profits up 19% in 2017

Cairo – Mubasher: Palm Hills Development Co on Monday reported a 19% year-on-year rise in 2017 consolidated profits due to a growth in revenues. Net profit amounted to EGP 936.4 million last year, compared to EGP 785.25 million in 2016, the …

Financial Results