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, PHD achieved net profits of EGP 717.76 million, down from EGP 846.78 million in 2019, including minority shareholders’ rights.