Arab Finance: Palm Hills Development Company (PHDC) is currently in advanced talks with three banks to secure a loan of around EGP 1.72 billion, as per a disclosure.
The loan will be used to finance Palmet October project, being built on an area of 45 feddans in West Cairo.
The final loan agreement has not been signed yet.
It is worth noting that Palm Hills is planning to invest up to EGP 9.5 billion in its projects this year.