EGX-listed real estate player Palm Hills Development (PHD) will break ground on a new EGP 65 bn residential and commercial complex in Sixth of October City in June 2024, PHD head Yasseen Mansour told Asharq Business. Mansour did not provide further details about the project, the name of which has not yet been made public.

The company wants to snap up a loan for its Badya project:PHD has started talks to line up financing worth EGP 5.5 bn from a Banque Misr-led syndicate, Mansour added, with a view to onboarding the cash within three months. The funding will be earmarked for PHD’s 50k unit Badya project in the Sixth of October.

Not news we wanted to hear: Real estate prices will rise by no less than 40% in 2024, Asharq Business quotes Mansour as having said.

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