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Tag: palm hills

Developer acquittal spurs renewed investor interest in Egypt

With the downfall of the Mubarak government, many Egyptian property investors were running scared, as troubled developers looked on the verge of collapse after prosecution for corruption. With the acquittal of major firms like Palm Hills, as well as former housing minister Ahmed Maghrabi, the buzz is back in the market, reports Egyptian newspaper Al-Ahram.

Egyptian to drop Palm Hills, Kingdom cases

An Egyptian citizen who tried to overturn state land sales to Palm Hills and Saudi's Kingdom Holding has withdrawn the claims, saying there was little point continuing while the government is doing little to fight graft.

Egypt’s Palm Hills suffers net loss in Q1

Egypt's second-biggest listed developer, Palm Hills has recorded a first-quarter net loss of EGP36.2m ($1.6m), compared with a net profit of EGP107m a year earlier, Reuters has reported. The firm's revenues fell to EGP193.5m from EGP198m in 2010.

Egypt set to uphold Palm Hills verdict

Egypt's housing minister Fathi Abdelaziz el-Baradei has said the government will uphold a court ruling to scrap a sale of state land to developer Palm Hills but will ensure ordinary Egyptians are not hurt, Ahram has reported.

Egyptian developer faces uncertainty in 2011

The country's second largest developer says 2011 could be its toughest year yet due to rapidly falling sales in the wake of the revolution.

Egypt development deal blocked by court

A sale of public land to one of Egypt's largest developers has been revoked by a judicial panel, prompting fears similar property investments in the country could be in jeopardy.
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2020/08/08 03:57:49pm