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Palm Hills Developments
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Palm Hills Developments achieves New Sales of EGP5.6 billion up from EGP3.0 billion last year, and record growth of 106% YoY in Net Profit after Tax & Minority Interest reaching EGP349 million, compared to EGP169 million in 1H2016 Palm Hills Developments commence regulatory procedures related to its second securitization of receivables transaction including the issuance of Securitized Bonds by up to EGP700 million Palm Hills Developments successfully concludes negotiations with lending banks and receives approval on the reduction of interest rates applicable to the bulk of its existing debt Palm Hills Developments receives NUCA's approval on the co-development of an integrated residential community spanning 12.6 million sqm in West Cairo Palm Hills Developments successfully launch New Sales and Reservations in Palm Valley Mall and Palm Central, two of its commercial projects in West Cairo, with New Sales recording EGP470 million since launch in April 2017 “ Palm Hills Developments achieves the highest quarterly Sales ever of EGP3.1 billion, and grows Net Profit after Tax & Minority Interests by 101% YoY to EGP212 million, a record bottom line for a first quarter <--! Palm Hills Developments achieves record Net New Sales of EGP3.1 billion, a growth of 58% YoY in the first quarter of 2017 Palm Hills Developments inks EGP852 million Syndicated Medium Term Loan to partially finance recently acquired 190 feddan in West Cairo 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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