Palm Hills Developments, an Egyptian real estate company, secures an $157 million syndicated financing deal to fund construction for its **Palm Hills New Cairo** project. The agreement covers long-term funding for multiple development phases. The financing totals **8 billion Egyptian pounds**, supporting infrastructure and residential projects in New Cairo.
Palm Hills Developments reports a **21.7% year-over-year decline in net income after tax and minority interest to EGP 1.2 billion** in 1Q 2026, despite an **11.3% revenue increase to EGP 9.3 billion**. The company attributes revenue growth to strong new sales and a **record development backlog of EGP 263 billion**.
Palm Hills Developments partners with Egyptian Kuwaiti Company to develop a **1.4 million sqm mixed-use project** in West Cairo, adjacent to the Palm Hills October phases. The agreement expands Palm Hills’ land bank to **40.5 million sqm**, bolstering future sales potential. The project targets high-visibility real estate development in Cairo’s growing residential and commercial market.
Palm Hills Developments evaluates real estate projects in Abu Dhabi and Dubai as part of its expansion into the UAE. Chairman Yassin Mansour highlights the company’s assessment of opportunities in these markets. The developer also explores potential ventures in Saudi Arabia.
