Egypt's Palm Hills unveils plans for major development in Jirian City
EGX-listed Palm Hills Developments (PHD) announced on Monday the launch of a new project in Jirian City, located along the Sheikh Zayed Axis in West Cairo.
The announcement was made during the official launch of Jirian City, attended by Prime Minister Mostafa Madbouly.
PHD's project, which will span 361 acres and include over 9 kilometres of Nile waterfront, will integrate residential and touristic elements, the company said in a press statement.
PHD's Chairman and CEO Yasseen Mansour said the Jirian City project will include a new Palm Hills Sports Club focused on water and marine activities, with ambitions to support athletes competing at the 2028 Los Angeles Olympic Games. He added that the project aims to create around 100,000 direct and indirect jobs annually.
PHD has developed 41 integrated projects across East and West Cairo, Alexandria, and the North Coast. It also has an established presence in the hospitality sector, with partnerships including The Ritz-Carlton Cairo Palm Hills and plans to add 4,000 new hotel rooms over the next five years.
(Writing by Eman Hamed; Editing by Anoop Menon)
(anoop.menon@lseg.com)
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