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Egypt’s Palm Hills Development Company (PHDC) saw a 35% year-on-year increase in new sales in 2021

Posted on February 21, 2022   |  

  • The top Egyptian real estate developer recorded new sales of EGP 17.3 billion ($1 billion) in 2021, surpassing its previously announced target of EGP 15 billion ($954 million)
  • In 2021, sales grew by 82% annual to 3,350 units compared to 1,840 units in 2020., and residential sales increased by 41% annual to EGP 15.3 billion, of which sales from Badya accounted for 26%.
  • Sales from Badya grew by 316% year-on-year to 1,048 units in 2021, registering EGP 4 billion compared to 311 sold units in 2020. Moreover. Commercial sales hit EGP 2 billion last year, with a year-on-year growth rate of 3%.
  • In 2021, Palm Hills Development’s invested EGP 2.7 billion in construction activities and delivered 1,308 units, up by 107% from 633 units in 2020.