Palm Hills expects EGP 15B investment blueprint for 2024

Updated 1/11/2024 9:15:00 AM
Palm Hills expects EGP 15B investment blueprint for 2024

Arab Finance: Palm Hills Development Company’s (PHDC) investments in 2023 hit EGP 5 billion, with expectation it would invest EGP 15 billion in 2024, Chairman Yasseen Mansour said in an interview with Al Arabiya Business.

The firm is also planning to double the number of its residential units this year as compared to last year’s units, Mansour noted.

He also said that the company had doubled its revenues in 2023 compared to the year prior, adding that the company had halted selling for some time over challenges regarding construction costs calculation.

Mansour expects a 60% annual increase in units’ prices during 2024 after hitting 80% in 2023.

In case of a further devaluation of the Egyptian pound, prices could be stabilized or even reduced, he added.

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