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PHDC - Palm Hills Developments News Story

$5.1 0.0  0.0%

Last Trade - 04/04/18

Sector
Financials
Size
Micro Cap
Market Cap £14.6m
Enterprise Value £213.6m
Revenue £235.4m
Position in Universe th / 1824

BRIEF-Palm Hills, NUCA to develop EGP 150 bln residential project

Tue 12th September, 2017 9:04am
Sept 12 (Reuters) - PALM HILLS DEVELOPMENTS COMPANY 
 PHDC.CA  
    * SAYS CO AND NUCA INK CO-DEVELOPMENT AGREEMENT OF AN 
INTEGRATED RESIDENTIAL COMMUNITY SPREADING 12.6 MILLION SQM IN 
WEST CAIRO 
    * SAYS CO WILL BE RESPONSIBLE FOR FINANCING, CONSTRUCTION, 
DEVELOPMENT, INTERNAL INFRASTRUCTURE, MARKETING AND SALES 
ACTIVITIES 
    * SAYS NUCA WILL BE CONTRIBUTING LAND BANK ALONGSIDE ALL 
ASSOCIATED EXTERNAL INFRASTRUCTURE TO BOUNDARIES OF PROJECT 
    * NUCA TO GET REVENUE SHARE OF 26 PERCENT, TRANSLATING INTO 
C.EGP 25.2 BILLION PAYABLE OVER 12 YEARS TO GOVERNMENT, IN-KIND 
PAYMENT OF BUA OF UP TO 422K SQM 
    * SAYS PROJECT'S INVESTMENT COST IS ESTIMATED AT EGP 150 
BILLION 
 
Source: (http://bit.ly/2wTQMh7) 
Further company coverage:  PHDC.CA  
 
 ((Bangalore.newsroom@thomsonreuters.com;))

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