Cairo – Mubasher: Palm Hills Developments said Monday that it has signed an agreement to develop an integrated community in Alexandria governorate on 567,000 square metres.
The project, the first investment for Palm Hills outside the suburbs of Cairo and the North Coast, is located near Al Nozha International Airport, according to a statement.
According to the agreement, the company will be responsible for all construction, development, infrastructure, marketing, and sales activities.
“I am very pleased with this partnership. I believe Alexandria is an untapped market with huge potential,” Yasseen Mansour, Palm Hills’ chairman, said.
“Competition is basically non-existent in Egypt's second largest city which has not seen major real estate residential development for the last 20 years, with Palm Hills being the first major developer to venture into Alexandria,” he added.
