PHD signs EGP 3.5 bn agreement with Al Shorouk for Ain Sokhna development

Palm Hills Developments (PHD) has signed a EGP 3.5 bn agreement with Al Shorouk for Touristic Developments to build a mixed-use development in Ain Sokhna, according to a bourse disclosure (pdf). The project will cover 116 feddans and be developed over five phases. The first phase of homes is set to be delivered three years from the project’s launch.