PHD, NUCA sign EGP 150 bn agreement to co-develop project in 6 October

Palm Hills Developments (PHD) signed yesterday a EGP 150 bn agreement with the New Urban Communities Authority (NUCA) to co-develop the 3,000 feddan October Oasis residential and commercial project in Sixth of October, Al Mal reports. PHD expects to complete its general plan for the project and receive the necessary licensing within 18 months, according to Chairman Yasseen Mansour. Under the agreement, NUCA will take 26% of the revenues from the project.