Palm Hills Developments announce that it was awarded a prime commercial land plot spreading 172,448 sqm (c.41 feddan) in West Cairo through a tender with the New Urban Communities Authority (NUCA) at a net present value of EGP3,620/sqm. PHD will pay for land over three years plus a down payment of 35%. This vacant land is strategically located in the heart of the iconic Palm Hills October between Phases 1-5 and Bamboo and will be transformed into the new downtown of Palm Hills October. The Company expects to have a BUA of up to 98,000 sqm, with the first tenants moving in after 4.5 years.