Palm Hills Developments becomes number one Egyptian property developer in terms of New Sales with record Revenue, EBITDA, and handed over units in FY2016 Palm Hills Developments signs an agreement with the Egyptian Ministry of Housing to acquire 190 feddan in West Cairo Palm Hills Developments signs agreements with Sarwa Capital, Arab African International Bank and Banque Misr in relation to its receivables securitization program and expect to launch the Securitization Bond for a total consideration of EGP 404 million after receipt of EFSA’s approval Palm Hills Developments successfully launch sales in Palm Hills New Cairo with 100% sellout of offered standalone units Palm Hills Developments realize record Revenue of EGP3.6 billion, Net Profit of EGP 404 million in 9M 2016, with 3Q2016 Net Profit surpassing the first two quarters combined. New Sales rose 18% YoY to EGP5.4 billion, on track to become the largest developer in Egypt Palm Hills Developments commence monetization of receivables program including the issuance of Securitized Bonds by up to EGP 1 billion Palm Hills Developments announce a ratio change on its Depositary Receipt program
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