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 complexes, an international school, and a sporting club, the company’s chairman and CEO Yaseen Mansour said in a statement on Tuesday.

The first phase of the project is scheduled to be delivered in December 2023, while the second phase will be delivered in 2024, Mansour revealed.

It is noteworthy that during the January-September period of 2019, Palm Hills posted a net profit of EGP 544.3 million, down from EGP 640.2 million in the year-ago period, including minority shareholders’ rights.

Mubasher Contribution Time: 03-Dec-2019 14:46 (GMT)
Mubasher Last Update Time: 03-Dec-2019 14:46 (GMT)