Palm Hills unveils investment for development project, Saudi partnership

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The development company is set to launch a new project on the North Coast on an area of 150 acres during the first quarter (Q1)of 2025, according to a bourse disclosure

Staff Writer, Mubasher

September 11, 2024

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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 on an area of 150 acres during the first quarter (Q1)of 2025, according to a bourse disclosure.

In partnership with the Saudi Dallah Al Baraka Group, the listed entity will explore investment opportunities in Jeddah and Riyadh and the fields of real estate development and education.

During the first half (H1) of 2024, the consolidated net profits after tax and minority interest of Palm Hills enlarged by 180% to EGP 1.70 billion from EGP 608 million.

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