Intro
Palm Hills Developments is a leading real estate company in Egypt, focused on building integrated residential, commercial, and resort projects. Founded in 1997, it has a vast and diversified land bank of 29 million sqm and boasts 34 projects across West Cairo, East Cairo, Alexandria, and the North Coast. The company’s mission is to set excellence standards in lifestyle property development, aiming to create curated communities in sought-after global addresses
Palm Hills Flagship projects
Commercials
Palm Hills has equally made its mark in the commercial real estate sector, introducing a series of innovative commercial projects designed to meet the evolving needs of businesses and entrepreneurs. In this blog, we delve into the diverse commercial ventures by Palm Hills, showcasing how they cater to a variety of business needs across strategic locations in Egypt.
Crown Central
Crown Central stands as a beacon of commercial excellence in West Cairo. This project is designed to be more than just a business hub; it’s a convergence point for professionals seeking a blend of modernity, accessibility, and architectural elegance. With its strategic location and state-of-the-art facilities, Crown Central is poised to become a landmark for businesses aiming for growth and visibility in Egypt’s competitive market.
Golf Central
Located in the heart of Palm Hills October, Golf Central offers an exclusive business environment that is both inspiring and sophisticated. This project is tailored for those who seek to immerse their enterprises in a setting that reflects prestige and success. With its breathtaking views of lush landscapes and golf courses, Golf Central provides a serene yet dynamic backdrop for businesses and professionals.
Hale Town
Hale Town introduces a unique concept that blends retail, commercial, and leisure spaces within a vibrant community setting. Situated in West Cairo, this project is designed to cater to the daily needs of its surrounding residents and visitors, offering a lively mix of shops, eateries, and service outlets. Hale Town is the epitome of convenience and community-centric commercial spaces.
Lakeyard
The Lakeyard project takes the concept of open-air shopping to new heights. Located in hacienda bay , it is an impeccably designed retail destination that offers a blend of shopping, dining, and entertainment options. The Lakeyard is not just a commercial project; it’s a lifestyle destination where visitors can enjoy leisurely walks, stunning water features, and an array of shops and restaurants.
Palm Central
Palm Central is another gem in Palm Hills’ commercial portfolio, offering a dynamic and flexible office space solution in West Cairo. Designed to accommodate the needs of modern businesses, Palm Central provides an environment that fosters productivity, innovation, and collaboration. Its strategic location ensures easy access, making it a preferred choice for businesses looking for an edge in accessibility and convenience.
Palmet New Cairo & Palmet October
Both Palmet New Cairo and Palmet October are distinguished by their strategic locations and comprehensive amenities. These projects serve as integrated commercial hubs that support a wide range of business activities, from retail to office spaces. With their elegant designs and thoughtful layouts, they provide an ideal environment for businesses to thrive and grow.
St. 88
St. 88 introduces a fresh perspective on commercial spaces, combining sleek architecture with functionality. Located in a prime area, this project offers retail and office spaces that cater to the needs of businesses looking for premium locations and modern facilities.
The Lane
Reflecting the essence of modern commercial spaces, The Lane is designed to be a vibrant retail and business hub. Its strategic location and innovative design make it a sought-after destination for businesses and customers alike, offering a unique shopping and work experience.
Village Gate Mall
Village Gate Mall epitomizes the fusion of retail convenience and lifestyle. Positioned in a key location, it offers a mix of shopping, dining, and entertainment options, catering to the diverse needs of its visitors. This project stands as a testament to Palm Hills’ commitment to creating spaces that enhance the quality of life.
Residential
Badya
Badya by Palm Hills is a groundbreaking project that encompasses 3000 acres, strategically located to bridge East and West Cairo, introducing a smart and sustainable living experience. The development features six commercial districts, four schools, an international university, an educational hospital, 18 clubhouses, an 85-feddan sports club, 36 sports arenas, 31 villa clusters, and 52 apartment clusters. It aims to serve as a central hub for future expansions, offering unparalleled connectivity to key Egyptian landmarks and the new administrative capital.
Palm hills new cairo
Palm Hills New Cairo, strategically located to overlook both New Cairo and the neighboring New Capital City, is a residential project under construction, offering a mix of villas, apartments, and townhouses. It provides an ideal balance between a prime location and privacy, with separate entrances for commercial and residential areas. The project is near key locations like AUC, Downtown Mall, and Cairo International Airport
Hacienda west
Hacienda West is a Palm Hills Development project located on the North Coast, specifically 10 kilometers into Ras Al Hikma, positioning it within the region’s newest hotspot. This project is currently under construction, aiming to offer a prime location for those seeking a blend of luxury and tranquility by the sea
Hospitality
Palm Hills Developments offers diverse hospitality experiences across Egypt, including adult-only getaways, luxury accommodations, and tranquil escapes. Their offerings span from West Cairo to the North Coast, from the Red Sea to Ismailia, ensuring a variety of settings for relaxation and enjoyment. Featured properties include Hacienda White and Hacienda Bay on the North Coast, Novotel in 6th of October and Sharm el Sheikh, and Mercure in Ismailia, each providing unique experiences from glittering waters and stunning views to serene island retreats
Palm Hills Financial Highlights:
- Revenue increased by 18% year-on-year (YoY) to EGP 11.3 billion, attributed to higher sales and more delivered units.
- Gross Profit rose by 19% YoY to EGP 3.8 billion, maintaining a gross profit margin of 34%.
- EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortisation) grew by 31% YoY to EGP 2.3 billion, with an EBITDA margin of 21%.
- Net Profit After Tax & Minority Interest went up by 15% YoY to EGP 1 billion, though the net profit margin slightly decreased from 10% to 9%.
- Net Debt decreased to EGP 2.2 billion by the end of 9M2023, down from EGP 3.1 billion at the end of the first half of 2023.
- Receivables increased to EGP 51 billion at the end of 9M2023.
Operational Highlights:
- New Sales surged by 100% YoY to record EGP 35 billion in 9M2023, with significant contributions from projects in Badya, the North Coast region, Palm Hills New Cairo, and Palm Hills Alexandria.
- The company delivered 986 units during 9M2023, compared to 790 units in 9M2022.
- Construction spending doubled YoY, exceeding EGP 5 billion in 9M2023, reflecting the acceleration of construction pace across all projects.
Palm Hills Strategic Developments:
- PHD added a 374-feddan mixed-use plot to its land bank, located near the Palm Hills October region, with plans to launch the first phase in the first quarter of 2024.
- The company also partnered with Casa Cook hotels brand to add approximately 200 hotel rooms in Hacienda White 2 on the North Coast.
Executive Chairman’s Remarks:
Yasseen Mansour, Executive Chairman, expressed satisfaction with the company’s strong financial and operational results. He highlighted the record new sales of EGP 35 billion in 9M2023, a 100% growth YoY, attributing the success to strong sales momentum in key regions and projects. He also emphasised the company’s focus on accelerating construction and execution pace to mitigate cost inflation and outlined plans for new land acquisitions to enhance future sales visibility.
Conclusion
Palm Hills Developments has firmly established itself as a cornerstone of Egypt’s real estate sector, skillfully blending innovation with luxury across residential, commercial, and hospitality projects. With a broad portfolio that spans strategic locations, the company has not only shaped skylines but also fostered vibrant communities. The financial and operational milestones achieved underscore a commitment to excellence and growth, with promising expansions on the horizon. Palm Hills stands as a testament to visionary leadership and a forward-thinking approach to real estate development, poised for continued success in transforming Egypt’s living and business landscapes.
