United Kingdom

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

Sunday, 18 Jun 2017 

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.