PHD signs co-development agreement for first project in Alexandria

PHD moves into Alexandria: Palm Hills Developments (PHD) signed an agreement with an undisclosed party to co-develop over 135 feddans in Alexandria into an integrated community. PHD claims the agreement, signed on a revenue sharing basis, makes the company “the first major developer” to enter Alexandria and is the company’s first project outside the suburbs of Cairo and the North Coast. The development is located in close proximity to the Al Nozha International Airport. PHD will be responsible for all construction, development, infrastructure, marketing, and sales activities and plans to launch the project before the end of the year.