Cairo – Mubasher: Palm Hills Development Co’s board of directors has decided to liquidate its arm Palm hills International, based in the Dubai Multi Commodities Centre (DMCC).
The Egyptian real estate firm will assign AI Jeroudy Accounting& Auditing as a liquidator to terminate DMCC’s licence, Palm Hills said in a statement to the Egyptian Exchange (EGX) on Wednesday.
Palm Hills previously reported a 37% year-on-year increase in consolidated profits for the first nine months of 2018, recording EGP 640.21 million from EGP 466.9 million.
