Palm Hills Developments (“PHD”), jointly with REACAP Financial Investments (“REACAP”) and its subsidiary SVREICO Real Estate Investments (“SVREICO”) have agreed to co-develop an integrated residential and commercial community in Smart Village, with a total footprint of 10,000m2. The project is located within the second phase of Smart Village, a business park that is home to multinational and local corporations in West Cairo.
Through this agreement, PHD will be responsible for all construction, development, marketing and sales activities, while SVREICO will be contributing the land alongside all associated approvals from Smart Village Company and other regulatory authorities.
Youssef Elfar, REACAP’s Chairman commented: “It is our pleasure to partner with PHD on this project, which is a new and appealing concept that will cater to Smart Village’s business community”. Tarek Abdelrahman, PHD’s Co-CEO commented: “I am very pleased with this milestone and our partnership with REACAP and SVREICO, which will further enhance our value proposition in accordance with the recently adapted co-development model and replenish our inventory in West Cairo, while offering fully finished high-end products, catering to our prime clientele”.