{"id":661452,"date":"2025-02-27T00:00:00","date_gmt":"2025-02-27T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2025\/02\/27\/palm-hills-will-expand-to-abu-dhabi\/"},"modified":"2025-02-27T00:00:00","modified_gmt":"2025-02-27T00:00:00","slug":"palm-hills-will-expand-to-abu-dhabi","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2025\/02\/27\/palm-hills-will-expand-to-abu-dhabi\/","title":{"rendered":"Palm Hills will expand to Abu Dhabi"},"content":{"rendered":"

REAL ESTATE- <\/p>\n

PHD is heading to Abu Dhabi: <\/strong>Real estate developer Palm Hills Developments\u2019 (PHD) board approved the company\u2019s expansion to the UAE via the establishment of a subsidiary and wholly owned limited liability company in Abu Dhabi, according to an EGX disclosure (pdf)<\/a>. <\/p>\n

(Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n

ICYMI: <\/strong>Palm Hills established its new Saudi branch last August<\/a> and has plans to develop<\/a> urban projects and 15 international schools in the kingdom under an agreement with Saudi investment group Dallah Albaraka subsidiary Dallah Real Estate. <\/p>\n

\n

M&A-<\/p>\n

Dirac Systems<\/strong> revealed to be the latest in a string of startups freshly acquired by <\/strong>Fawry<\/strong>: <\/strong>Fintech giant Fawry has nabbed a majority stake (51%) in Dirac Systems<\/a>, an enterprise resource planning (ERP) software company, as part of its wider push to acquire startups that offer complementary services, it said in a press release (pdf)<\/a>. The move follows Fawry\u2019s acquisition of a 56% stake<\/a> in financial services and accounting firm Virtual CFO<\/a> and a 51% stake<\/a> in local hospitality and medical institutions manager Code Zone<\/a>. Combined, the investment tally landed at EGP 80 mn. <\/p>\n

The pitch:<\/strong> \u201cThese investments reinforce Fawry\u2019s position as a one-stop digital business solutions provider by expanding \u201cFawry Business\u201d suite in ERP and financial management tools, seamless digital payment integrations with advanced accounting and HR solutions, and tailored fintech innovations for SMEs, and large enterprises,\u201d Fawry CEO Ashraf Sabry said. <\/p>\n

\n

STARTUPS-<\/p>\n

Design and furnishing made easy<\/strong>:<\/strong> Valu, The Mob Collective, and Le March\u00e9 have launched Dream Space, a platform offering designer-curated home furnishing packages with transparent pricing and flexible financing, the companies said in a press release (pdf)<\/a>. The platform gives customers the chance to choose from ready-made room packages in various design styles, crafted by The Mob Collective. Le March\u00e9 will provide access to premium furniture brands, while Valu will offer tailored payment plans with its lowest-ever interest rates, extending up to 60 months. The initiative aims to simplify home furnishing by eliminating the complexity of sourcing individual pieces. <\/p>\n

\n

EXPANSION-<\/p>\n

Elsewedy lands a major Hungarian power plant contract:<\/strong> Elsewedy Electric has been awarded an engineering, procurement, and construction contract for a combined cycle power plant in Hungary, by MVM Matra Energia \u2014 a subsidiary of Hungarian Electric Company, according to a press release (pdf)<\/a>. <\/p>\n

What we know:<\/strong> The project \u2014 set to be Hungary's largest combined cycle power plant in decades and the country's first hydrogen fuel-ready plant \u2014 marks Elsewedy Electric\u2019s first major venture in Europe. Elsewedy is part of a consortium that includes two other Hungarian companies. The project is set for completion by 2028.<\/p>\n

\n

ENERGY-<\/p>\n

The Oil Ministry <\/strong>has concluded the tender for 13 <\/strong>blocks<\/strong>, with submitted proposals exceeding USD 700 mn worth of investments, according to a statement<\/a>. The bids come as part of a wider offering of 61 potential investments. The bids will be evaluated and announced within 1-2 months.<\/p>\n","protected":false},"excerpt":{"rendered":"

PLUS- Fawry acquires 51% of enterprise resource planning software company Dirac Systems<\/p>\n","protected":false},"author":1,"featured_media":661453,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7209],"tags":[111,152,93,72,519,183,7128,91,354,123],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-661452","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-also-on-our-radar","tag-also-on-our-radar","tag-elsewedy-electric","tag-energy","tag-enterpriseam","tag-fawry","tag-fintech","tag-ma-watch","tag-oil-and-gas","tag-palm-hills-developments","tag-startups","wpautop","entry"],"acf":{"mongo_id":"90fc1506-d3c0-4643-b326-f6f94ef6e0da","order":"17","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/3\/1651.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Egyptian real estate developer Palm Hills will expand to Abu Dhabi","related_issue":[661421],"teaser":"PLUS- Fawry acquires 51% of enterprise resource planning software company Dirac Systems","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/2\/.72f50088-f714-485c-a2c9-7e58a48c41a1.mp3"},"yoast_head":"\nPalm Hills will expand to Abu Dhabi - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2025\/02\/27\/palm-hills-will-expand-to-abu-dhabi\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Palm Hills will expand to Abu Dhabi\" \/>\n<meta property=\"og:description\" content=\"PLUS- Fawry acquires 51% of enterprise resource planning software company Dirac Systems\" \/>\n<meta property=\"og:url\" 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AAIB\u2019s stake in EGX-listed Palm Hills Developments.","rel":"","context":"In "M&A WATCH"","block_context":{"text":"M&A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/2\/143.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":560876,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/03\/16\/also-on-our-radar-on-16-march-2021\/","url_meta":{"origin":661452,"position":1},"title":"Also on our Radar on 16 March 2021","author":"enterpriseam admin","date":"16 March 2021","format":false,"excerpt":"Palm Hills is bringing the UK\u2019s King\u2019s College brand to Egypt: Palm Hills Development (PHD) has partnered with multinational schools operator Inspired EducationGroup to open a King\u2019s College branded British school in PHD\u2019s The Crown compound in West Cairo by 2022, when it will take in students from pre-kindergarten through\u2026","rel":"","context":"In "Also on our Radar"","block_context":{"text":"Also on our Radar","link":"https:\/\/enterpriseam.com\/egypt\/category\/also-on-our-radar\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":572674,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/07\/05\/palm-hills-seeks-egp-400-mn-following-debt-restructuring-to-develop-the-crown\/","url_meta":{"origin":661452,"position":2},"title":"Palm Hills seeks EGP 400 mn following debt restructuring to develop The Crown","author":"enterpriseam admin","date":"5 July 2020","format":false,"excerpt":"Palm Hills Developments is reportedly in talks with seven banks to restructure its EGP 1.24 bn debt and borrow an additional EGP 400 mn to expand its Crown development in Sixth of October, Al Shorouk reports, citing unnamed sources. The banks are said to include Attijariwafa Bank Egypt, Emirates NBD,\u2026","rel":"","context":"In "Banking + Finance"","block_context":{"text":"Banking + Finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/banking-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":572923,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/07\/14\/aaib-takes-12-25-stake-in-palm-hills-developments-appearing-to-buy-out-the-emirates-union-properties\/","url_meta":{"origin":661452,"position":3},"title":"AAIB takes 12.25% stake in Palm Hills Developments, appearing to buy out the Emirates\u2019 Union Properties","author":"enterpriseam admin","date":"14 July 2020","format":false,"excerpt":"M&A WATCH- AAIB takes 12.25% stake in Palm Hills Developments, appearing to buy out the Emirates\u2019 Union Properties. Arab African International Bank (AAIB) has purchased a 12.25% stake in Palm Hills Developments (PHD) for EGP 544.2 mn, according to a disclosure (pdf) to the EGX. Although the filing doesn\u2019t specify\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":590568,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/07\/24\/palm-hills-closes-egp-472-5-mn-securitized-bond-issuance\/","url_meta":{"origin":661452,"position":4},"title":"Palm Hills closes EGP 472.5 mn securitized bond issuance","author":"enterpriseam admin","date":"24 July 2023","format":false,"excerpt":"PHD closes second securitization transaction of 2023: Our friends at real estate developer Palm Hills Developments (PHD) has closed a EGP 472.5 mn securitized bond issuance, according to a joint statement (pdf) from PHD and EFG Hermes, which managed the transaction. EGP 1+ bn and counting: PHD has now securitized\u2026","rel":"","context":"In "DEBT WATCH"","block_context":{"text":"DEBT WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/debt-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/7\/857.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":652045,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/02\/27\/phd-looking-to-borrow-egp-852-mn-from-egyptian-banks\/","url_meta":{"origin":661452,"position":5},"title":"PHD looking to borrow EGP 852 mn from Egyptian banks","author":"enterpriseam admin","date":"27 February 2017","format":false,"excerpt":"Palm Hills Developments (PHD) says it is looking to borrow EGP 852 mn to finance a number of projects, according to a regulatory disclosure. PHD denied it has already reached a final loan agreement with National Bank of Egypt and National Bank of Abu Dhabi-Egypt for the funding and that\u2026","rel":"","context":"In "Real Estate + Housing"","block_context":{"text":"Real Estate + Housing","link":"https:\/\/enterpriseam.com\/egypt\/category\/real-estate-housing\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/661452","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=661452"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/661452\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/661421"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/661453"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=661452"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=661452"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=661452"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=661452"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=661452"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}