Sarwa Capital announced that it has concluded the EGP 760 mn securitization of Palm Hills Development’s receivables portfolio, which was made up of 670 delivered homes in the Golf View, Golf Extensions, Palm Hills Katameya Extension (1&2), Hacienda Bay and Hacienda White 2 projects. The receivables portfolio is currently valued at EGP 609 mn, Sarwa said in a press release on Wednesday (pdf). “In total to date, we have issued bonds for gross receivables of EGP 1.6 bn out of the c.EGP 5 bn program,” said Ayman El Sawy, managing director of Sarwa Promotion & Underwriting.

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