Arab Finance: UAE-based Miran Hills Real Estate and Palm Hills Development Company partnered to launch an exclusive new development in the Ras El Hekma at Egypt's North Coast, according to a press release.

Located in a prime waterfront area in Ras El Hekma, the mixed-use development will span 5.65 million square meters with a beachfront exceeding 4.8 kilometers. Sales for the project are slated to begin in summer 2026.

The development scheme is designed as a large-scale coastal destination to redefine seaside living. It will offer residential units, international-standard hotels, a flagship sports club, and a diverse selection of beachfront dining experiences.

Hisham Malak, Managing Director of Miran Hills Real Estate, said: “This collaboration represents our commitment to bringing world-class developments to the region's most exceptional locations. Ras E Hekma offers an unparalleled opportunity to create a truly iconic destination, a place ripe for growth and opportunity, and we are confident that we will set a new benchmark for luxury living on the North Coast.”

For his part, Yasseen Mansour, Chairman and group CEO of Palm Hills, commented: “The project will leverage our proven expertise in creating vibrant, luxurious and sustainable communities. Together, we will deliver a development that honours the exceptional character of this location while offering residents an unmatched lifestyle.”

At the end of December 2025, Palm Hills generated consolidated net profits after tax and non-controlling interest of EGP 4.216 billion, 29.55% year-on-year (YoY) up from EGP 3.254 billion.