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Palm Hills in talks over $342.m loan

Reuters – Egypt’s Palm Hills said it is in talks with the Arab African Bank over a EGP 2.4bn ($342.49 million) loan which it will use to finance projects and refinance some loans, it said in a statement posted on the bourse on Monday. The country’s second-biggest listed property developer said that in addition to …

Daily News Egypt

Egypt’s Palm Hills falls into loss, revenues plunge

By Yasmine Saleh / Reuters CAIRO: Egypt’s second-biggest listed property developer, Palm Hills, reported on Monday it made a net loss of LE 331.3 million ($55 million) last year, compared with a profit of LE 526 million in 2010, as sales revenue plunged 67.6 percent. The firm suffered from last year’s uprising that toppled President Hosni …


Egyptian property firm Palm Hills hit by Q3 loss

CAIRO: Egyptian real estate group Palm Hills, the country’s second-biggest listed developer, reported a third-quarter net loss on Thursday, hit by weaker revenues and what analysts suspect was a high rate of cancellations. The firm, battered by investigations into previous state land sales and by client cancellations after the uprising that toppled Hosni Mubarak in …


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