Palm Hills Development Co SAE (PHDC)

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News

10 April 2025 06:31 AM Palm Hills’ subsidiary to secure EGP 1.3bn loan from Banque Misr

Cairo – Mubasher: Middle East for Real Estate and Tourism Investment LLC, a subsidiary of Palm Hills Developments Company, is set to secure a long-term syndicated loan facility with a maximum EGP 1.30 billion from Banque Misr. The unit will …

Board of Directors

9 March 2025 09:49 AM Palm Hills unveils EGP 3.2bn consolidated profits in 2024, regional expansion plans

Cairo – Mubasher: Palm Hills Developments Company registered 106% higher consolidated net profits after tax and minority interest at EGP 3.25 billion in 2024, compared to EGP 1.58 billion. Earnings per share (EPS) increased to EGP 1.12 last year …

Real estate

27 February 2025 07:14 AM Palm Hills to develop wholly owned firm in UAE

Cairo – Mubasher: Palm Hills Developments Company is set to establish a fully owned limited liability company in the Abu Dhabi Global Market (ADGM). The board members approved the plan during their meeting that was held on 25 February, according …

Companies Investments

18 November 2024 02:59 PM Palm Hills reports EGP 130bn sales in 9M-24; profits hike 124%

Cairo – Mubasher: Palm Hills Developments Company registered sales momentum of EGP 130 billion in the first nine months (9M) of 2024, driven by solid demand for new launches and existing projects. Revenues stood at EGP 17.96 billion in 9M-24, …

Financial Results

3 October 2024 04:10 PM Palm Hills mulls stake acquisition in Macor, Taaleem

Cairo – Mubasher: Palm Hills Developments Company announced a capital reduction by cancelling treasury shares totalling 61.68 million shares, according to a bourse disclosure. The board members also decided, on 1 October, to purchase the share of …

Companies Investments

11 September 2024 01:26 PM Palm Hills unveils EGP 22bn investment for development project, Saudi partnership

Cairo – Mubasher: Palm Hills Developments Company plans to invest about EGP 22 billion in construction next year, compared to EGP 8.50 billion targeted by the end of 2024. The development company is set to launch a new project on the North Coast …

Companies Investments

26 August 2024 11:47 AM Palm Hills logs EGP 1.7bn consolidated profits in H1-24

Cairo – Mubasher: Palm Hills Developments Company posted consolidated net profits after tax and minority interest worth EGP 1.70 billion in the first half (H1) of 2024, an annual hike of 180% from EGP 608 million. Revenues reached EGP 10.93 …

Financial Results

5 August 2024 10:48 AM Palm Hills sets up company in Saudi Arabia

Cairo – Mubasher: Palm Hills Developments Company has established a company in Saudi Arabia and appointed Majed Sharif as its CEO. The EGX-listed firm announced the news in a bourse disclosure on 4 August 2024. In the first quarter (Q1) of 2024, …

Companies Investments

29 May 2024 10:29 AM Palm Hills registers 298% higher consolidated profits in Q1-24

Cairo – Mubasher: Palm Hills Developments Company recorded consolidated net profits after tax and non-controlling interest worth EGP 1 billion in the first quarter (Q1) of 2024, an annual jump of 298% from EGP 252.67 million. The revenues hiked by …

Real estate

21 April 2024 04:10 PM Palm Hills Developments in talks with 3 banks for EGP 1.7bn loan

Cairo – Mubasher: Palm Hills Developments Company has confirmed a media report that it is in talks with a syndicate of three banks for a loan totalling EGP 1.72 billion. The company said that it is in the final stages of these talks, according to …

Real estate

8 April 2024 04:48 PM El Mansour & El Maghraby lowers stake in Palm Hills for EGP 141.5m

Cairo – Mubasher: El Mansour & El Maghraby Investment & Development reduced its shareholding in Palm Hills Developments Company to 39.85% from 41.19%, according to a bourse disclosure. El Mansour & El Maghraby sold 39.41 million shares in the …

Companies Investments

28 February 2024 02:52 PM Palm Hills Developments logs EGP 1.6bn profits in 2023; acquisition deal approved

Cairo – Mubasher: The net consolidated profit after income tax and non-controlling equities of Palm Hills Developments Company registered EGP 1.58 billion in 2023, up from EGP 1.25 billion a year earlier. Revenues jumped to EGP 17.46 billion last …

Real estate

26 December 2023 01:01 PM EFG Hermes closes Palm Hills’ EGP 421m securitisation issuance

Cairo – Mubasher: EFG Hermes, the leading investment bank in Frontier and Emerging Markets (FEM) under EFG Holding, and Palm Hills Developments Company jointly closed an EGP 421 million securitised bond. The issuance comes in line with the newly …

Bonds

19 November 2023 02:24 PM Palm Hills logs higher consolidated profits at EGP 1.12bn in 9M-23

Cairo – Mubasher: Palm Hills Developments Company witnessed higher consolidated net profits after tax at EGP 1.12 billion in the first nine months (9M) of 2023. The 9M-23 net profits were compared with EGP 910.86 million in 9M-22, including …

Real estate

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 …

Companies Investments

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 …

Real estate

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 …

Financial Results

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 …

Real estate

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 …

Real estate

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 …

Financial Results

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 …

Companies Investments

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 …

Sukuk and Islamic Finance