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2 months ago
BRIEF-Palm Hills gets NUCA approval for integrated residential community in West Cairo
June 18, 2017 / 9:35 AM / 2 months ago

BRIEF-Palm Hills gets NUCA approval for integrated residential community in West Cairo

June 18 (Reuters) - Palm Hills Developments Company Sae :

* Receives New Urban Communities Authority's (NUCA) approval on co-development of integrated residential community spanning 12.6 million sqm in West Cairo

* Co to be responsible for financing, construction, development, internal infrastructure, marketing and sales activities

* NUCA will be contributing land bank in addition to all external associated infrastructure to boundaries of land

* Project is planned for launch during 2018

* NUCA to recieve cash revenue share of 26 percent, in-kind payment of up to 371k sqm of residential built up area (BUA), 50k sqm of commercial BUA Source: (bit.ly/2tB6EzY) Further company coverage:

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