PHD to break ground on EGP 400 bn October Oasis project in mid-April

Palm Hills Developments (PHD) is planning to break ground on the EGP 400 bn October Oasis residential and commercial project in mid-April, Chairman Yasseen Mansour tells Al Borsa. The 3,000-feddan project in Six October City will be co-developed by the New Urban Communities Authority (NUCA) as per an EGP 150 bn agreement signed in September. Under the agreement, NUCA will take 26% of the revenues from the project. PHD expects to sell the 3,000 units of phase one before the end of the year.