Palm Hills, OCI Sign EGP400 Mln Development Project

Palm Hills Development (PHDC.CA) and Orascom Construction Industries (OCIC.CA) has signed a EGP 400 million ($ 57.2 million) contract to develop a phase in one of Palm Hills’ projects in 6^th of October City, Anadolu Agency reported.

An official source in Palm Hills, who demanded anonymity, stated that this contract is included in company’s expansion plan and to prove its commitment before clients as well.

He added that, the contract was signed three days ago in order to finalize the sixth phase of Palm Hills’ project.