Palm Hills Developments saw sales rise 35% y-o-y last year to EGP 17.3 bn — marking the company’s highest ever new sales figure and surpassing its EGP 15 bn target, according to a statement (pdf). Sales were driven by an 82% y-o-y increase in the number of units sold, as well as a rise in average selling prices, with the growth squarely concentrated in Palm Hills’ residential segment. The company delivered 1.3k units in 2021, more than double the year before. Meanwhile, spending on construction was up 80% to register EGP 2.7 bn.

Eastern Company’s net income dropped 4% y-o-y in 2Q2021-2022 to EGP 1.3 bn, according to the company’s latest financial results (pdf). Revenues were essentially flat y-o-y, coming in at EGP 4.2 bn during the quarter.

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