Source: Palm Hills Development Disclosure to EGX
Palm Hills Development - PHDC announced today its partnership agreement with a company specializing in development and investment in the tourism sector. The partnership involves the development of a touristic project on a 415-acre land plot in the Sidi Henish Area, situated on Egypt's northwest coast. The project will encompass residential, commercial, and hotel components.
The agreement includes a confidentiality clause, and the project's revenue has yet to be determined. The company is currently working on the master plan for the project. It should be noted that the news published on a certain website is unrelated to the company in terms of its source, and the reported earnings figures and partnership percentages are incorrect.
Palm Hills Development is scheduled to commence the sale of this project in the second half of 2024.
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