Arab Finance: Palm Hills Development Company (PHDC) is planning to invest up to EGP 9.5 billion in Cairo and North Coast within the current year, the firm’s Chairman Yasseen Mansour told Asharq Business.

This marks a 50% year-on-year (YoY) increase in investments, as compared to 2023, Mansour pointed out.

He expects the company to achieve in 2024 the same sales as those of last year, amounting to EGP 60 billion, up 140% YoY in comparison to 2022.

Moreover, he noted that a further Egyptian pound devaluation would increase demands abroad for Egyptian real estate, adding that around 25% of the company’s sales were from Egyptian expats.