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Reference: BB 9777
Apartments / Sale
Price / Sqm:
EGP 21,410 Per Sqm
Tue 28 Feb 2017
About Palm Hills Developments
Palm Hills Developments is a leading real estate company in the Egyptian market , primarily developing integrated residential , commercial real estate and resort projects. Founded in 2005 by Mansour and Maghraby Investment and Development Company [MMID] , the company which is listed on the Egyptian Stock Exchange and London Stock Exchange , traded under the symbols "PHDC.CA" and "PHDC.LI" respectively , was the result of a vision to create self-sufficient and well integrated communities.
Presently Palm Hills Developments possesses one of the largest land banks in the country and is rapidly growing into a regional player , thanks to a geographically diversified land bank suitable for the development of a broad range of real estate products all fashioned to cater for customers' need gaps and preferences.
Currently , Palm Hills Developments has a portfolio of 26 projects spanning different development stages nationwide , and spreading over 27 million square meters [sqm] in Egypt , including 5 million sqm in which is held for sale in Saudi Arabia. The Company's product offering includes primary homes on both West Cairo and East Cairo , as well as second homes by the Mediterranean Sea [North Coast].
The land bank includes 757 , 000 sqm of land earmarked for Commercial/Retail developments , with ambitions to have such properties contribute around 25% of the Company's consolidated Net Income by 2020.
"As the Egyptian real estate market continues to flourish , the need for true added value , integrated communities has never been greater.
Recognizing this early on , Palm Hills Developments was fortunately able to take part of this exciting change in the real estate investment climate , to contribute in driving the country's economy forward".
Capitalizing on market opportunities by acquiring land in strategic locations and developing communities for a rapidly growing demand , Palm Hills Developments became a trend-setter for innovative , fully integrated communities , as an Egyptian developer. With one of the largest land banks in Egypt and a multitude of projects in residential , commercial and tourism destination resorts under its helm , Palm Hills Developments is growing with strong momentum; offering high standard of quality and a seamless livable experience.
As the result of a dynamic market , we are able to push our boundaries , develop and recreate better livable communities , and as a result , better living conditions for all. What has long set us apart is a deep commitment to innovation and an innate ability to tap into the needs and aspirations of our clients , offering the highest value and return on their properties.
We shall continue our focus on enhancing the Company's financial performance and position through an ongoing implementation of our four strategic pillars namely growth , earnings stabilization and diversification , improving profitability and expediting project delivery. Our balance sheet is in its strongest position ever whereby we successfully completed the EGP1.65 billion Rights Issue of 824 million new ordinary shares in June 2015 , a strong evidence of the sustained trust and commitment from our shareholders and the strong interest from new investors , with new shareholders coming onboard from the US , UK and UAE.
At Palm Hills Developments , we believe that the core of our success stems from the belief that , by setting standards in quality , price and delivery , we will turn every integrated community into a success story; your success story."
Palm Hills Mission
To be the region's most influential developer that delivers premium quality projects with highest return on investment for our shareholders and clients , providing the best work environment for our employees
Traversing through fluctuating times one fact remains concrete , that through the thick and thin of it , whatever the climate , the environment , the element , the challenge , we remain moving on , trucking on , braving on…building on. We will always keep on building on our innovation , investments , partnerships , customer satisfaction , comfort and security along with our promise to deliver. It's our mantra and our guarantee.
PALM HILLS DEVELOPMENTS IS BUILDING ON
Our mission to redefine real estate development is focused on building in 3 directions: our diversified land bank , creative architecture , high quality delivery and upkeep.
Interweaving these three fundamental cornerstones , we began making our plans; initiating and implementing our strategic long-term ideas to meet the industry's growing demands whilst ensuring the sustainability of such developments across the board.
The company’s strategy is comprised of four pillars , namely Growth , Earnings Stabilization & Diversification , Improving Profitability and Expediting Projects' Delivery. Through the "Growth" pillar , the Company is exploring new large land banks within its development regions being West Cairo , East Cairo and North Coast to further expand its current development portfolio either through direct land auctions sponsored by the Egyptian Government , acquisitions from the private sector or co-development opportunities with land lords , securing the Company's future pipeline of residential and commercial offerings.
To enhance the "Earnings Stabilization & Diversification" pillar , the Company has set-Up Palm Hills Investments ("PHI") during 2015 with the purpose of deploying existing raw land that have been allocated as investment property and commercial real estate throughout completed developments and projects under development. Palm Hills has allocated c.757 , 000 sqm as a starting point for commercial projects. The Company is targeting developments in the following segments: neighborhood and community malls , office buildings , leisure facilities , health & education , and selective hotel properties.
With regards to "Improving Profitability" pillar , having recently revisited its future development
plans , Palm Hills is currently exiting untapped real estate investments and unutilized land plots that are no longer fit within the future development program , while at the same manner increasing land bank and enhancing cash flows in existing projects.
Green color means pay in installments