Palm Hills joins the race for HHD 10% stake + management contract

Palm Hills Developments has joined the list of companies competing to snag management rights for Heliopolis Housing & Development (HHD) along with a 10% stake in the company, sources told the local press. The real estate developer purchased the prospectus that went on salelast month, according to the sources. SODIC and BPE Partners had also purchased the prospectus. Interested bidders have until 1pm on 14 January to throw their hats into the ring and must submit any enquiries by 18 December. State-owned investment bank NI Capital will announce the winning bid by the end of January, Public Enterprises Minister Hisham Tawfik told us last week.