Mubasher: Palm Hills Development (PHD) has signed a co-development agreement on a revenue-sharing basis to establish an integrated resort spreading over 565.530 square meters in Ras El-Hekma, the North Coast.
As per the agreement, PHD is assigned to the activities of construction, development, infrastructure, and marketing for seven years. The project consists of 525 units over 235,000 squares meter with an estimated revenues ranging from EGP2.5 billion to EGP3 billion.
The company and partners will collect 80% and 20% respectively of revenues at a minimum revenue guarantee of EGP200 million due in 10 years.
