Latest news with #PalmHillsDevelopments
Zawya
6 days ago
- Business
- Zawya
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) (
Daily News Egypt
24-05-2025
- Business
- Daily News Egypt
Banque Misr, ADCB arrange EGP 1.3bn syndicated loan for Palm Hills' Casa Cook hotel project
A banking consortium led by Banque Misr, in cooperation with Abu Dhabi Commercial Bank–Egypt (ADCB), has arranged a syndicated loan facility amounting to EGP 1.3bn for the Middle East for Real Estate & Tourism Investment Company, a subsidiary of Palm Hills Developments. The long-term facility will finance part of the investment cost for the development of a 200-room hotel under the 'Casa Cook' brand in Hacienda White 1, located on Egypt's North Coast. Banque Misr acted as the initial mandated lead arranger, book-runner, facility agent, security agent, account bank, and debt service reserve account bank, demonstrating its leading role in structuring and managing the transaction. The agreement was signed by Mohamed Khairat, Head of Corporate Credit and Syndicated Loans at Banque Misr; Hisham Abbas, Head of Financial Institutions and Corporate Banking at ADCB–Egypt; and Aly Thabet, Executive Board Member for Financial Affairs at Palm Hills Developments. The signing ceremony was attended by senior executives from the participating banks and the real estate group. Strategic Support for Tourism and Real Estate Commenting on the agreement, Mohamed Khairat noted that Banque Misr's participation is aligned with its ongoing strategy to support Egypt's key economic sectors, particularly tourism. He emphasized the sector's critical role as a generator of foreign currency, a driver of GDP growth, and a catalyst for job creation through its strong linkages with supporting industries and services. 'This financing reflects our commitment to sustainable development and to promoting employment across various fields,' Khairat said. 'We are proud to support tourism investments that contribute to the national economy and enhance Egypt's position as a premier destination.' He also praised the high level of cooperation between the teams at both banks, crediting their professionalism and efficiency for the successful execution of the complex financial transaction. Khairat highlighted the importance of technical expertise in structuring and closing syndicated loans of this scale. ADCB Reaffirms Commitment to National Projects Hisham Abbas of ADCB–Egypt emphasized the importance of the bank's partnership with Palm Hills Group, particularly in the tourism and real estate sectors—two vital pillars of the Egyptian economy. 'This loan underscores our commitment to supporting the local economy and financing landmark projects that promote sustainability and empower the private sector,' Abbas said. 'It reflects our strategy to back large-scale developments that contribute to national economic growth.' He also praised the successful collaboration with Banque Misr and expressed optimism for future joint efforts to finance major national initiatives, stressing that Egypt's banking sector is a key engine of development. Palm Hills Expands Hospitality Footprint Tarek Tantawy, CEO and Managing Director of Palm Hills Developments, expressed his appreciation for the continued partnership with both banks. He said the syndicated loan will accelerate the development of one of the group's flagship hospitality projects, branded under Casa Cook, a global luxury boutique hotel concept. 'This project represents a strategic move to diversify our investment portfolio and deepen our presence in the hospitality sector,' Tantawy explained. 'We aim to operate the hotel year-round, creating sustainable tourism value and helping to position the North Coast as a global destination.' He added that the project is in line with Egypt's national efforts to attract tourism investment and enhance the region's infrastructure and services. Echoing this sentiment, Aly Thabet of Palm Hills said the financing deal is a testament to the company's strong financial performance and the confidence that leading banks place in its long-term vision. 'This collaboration strengthens our ability to access diverse funding sources and reflects our flexibility and efficiency in capital management,' Thabet said. 'We remain focused on delivering impactful hospitality projects that meet market needs while supporting our strategic expansion goals.'
Daily News Egypt
18-05-2025
- Business
- Daily News Egypt
The Real Estate Expo debuts with exclusive offers, long-term payment plans, and unmatched investment opportunities
Tarek Nour Events, a leading exhibitions and events organizer, has officially launched the inaugural edition of The Real Estate Expo, taking place from May 15–18, 2025, at the Egypt International Exhibition Center (EIEC). The event brings together Egypt's top real estate developers, including Palm Hills Developments, Ora Developers, Hassan Allam Properties, Tatweer Misr, Hyde Park Developments, Al-Ahly Sabbour, Wadi Degla Developments, Better House, Injaz Developments, PRE Developments, Ro'ya Developments, Inertia Egypt, and People & Places. Throughout the expo, participating developers are unveiling new project phases and offering exclusive deals featuring unprecedented discounts, cashback incentives, and extended payment plans—some reaching up to 12 years. Select offers include zero down payments and discounts of up to 50% for full cash transactions. As Egypt's largest real estate investment exhibition, The Real Estate Expo supports the country's broader national vision to boost the real estate sector's contribution to GDP and create new employment opportunities. The event aims to serve as a strategic platform to attract both local and international investment across residential, commercial, and tourism-related projects. 'The Real Estate Expo is more than a sales event—it's a comprehensive platform that simplifies the home-buying and investment process,' said Mostafa Ismail, Managing Partner at Tarek Nour Events. 'By gathering Egypt's top developers under one roof, we empower buyers to compare offerings, access tailored payment solutions, and make informed decisions confidently. Beyond that, the expo facilitates dialogue between investors, developers, and policymakers, helping drive sustainable growth across the sector.' Additional exhibitors include Al Dawlia Developments, Living Yards Developments, The Ark Development, Najma Walk, Reedy Group, NTG Development, Iwan Developments, M Squared, Frontline Development Group, and leading real estate brokerage Y the Brokers. Formerly known as the Arab African Promotional & International Conferences Group (AAPIC), Tarek Nour Events was established in 1983. With a strong track record across the Middle East and Africa, the company specializes in exhibitions, conferences, and event management. Its expert team combines creative innovation with strategic execution to deliver high-impact experiences across industries.
Zawya
06-05-2025
- Business
- Zawya
Egypt: Palm Hills records $1bln in Q1 sales
Arab Finance: Palm Hills Developments reported total sales of EGP 80.2 billion in the first quarter (Q1) of 2025, more than doubling from EGP 32.2 billion in the same period last year and up from EGP 21 billion in the fourth quarter (Q4) of 2024, as per a disclosure. The increase was driven by strong demand across existing projects, particularly Badya, Palm Hills New Cairo, B/X, and Palm Hills Alexandria. The company said this performance supports its full-year sales target of EGP 200 billion for 2025, reflecting a projected annual growth rate of 33%. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
