Founded in 2005, Palm Hills Developments quickly became one of Egypt’s leading real estate companies. CEO Engineer Mohamed Sultan says that the company’s ethos runs through every stage of its work, starting with land acquisition. “While keeping in mind that prospective clients have delegated us to fulfill their aspiration by developing their dream homes, not by just building houses. Such a philosophy sits in sync with our vision, which extends beyond bricks and mortar to creating a well-integrated livable experience,” he says.
To realise Palm Hills Developments’ vision, the company carefully selects the best business partners and service providers. Sultan says: “On the construction front, we’ve always been joining forces with the blue-chips of the industry who clearly manifest profound understanding of the local market need gaps, and simultaneously project world-class standards.”
Taking integrated development to a whole new level coloured by eco-friendliness and sustainability is equally important to Palm Hills Developments, as Sultan explains: “We are always seeking to apply the latest cutting edge technologies, methodologies and techniques across all business fronts. We’re currently in the process of exploring and piloting a new construction technique, which is meant to represent a quantum leap, providing innovative solutions that will further enhance final product neatness, aesthetics and speedy development and, moreover, will enable architects to have more room for design novelty. Most importantly, such new approaches are centric around green and sustainable development.”
Palm Hills Developments has taken solid steps towards full Corporate Social Responsibility (CSR) and is working on several community projects focussed on developing integrated, self-sustaining communities. These will provide the infrastructure and resources needed to create a better standard of life for needy villages in Upper Egypt and the Delta region. Sultan explains: “We always develop in the context of our community, driven by representing a socially responsible corporate citizen. Our business supports 100 feeder industries, creating 200,000 job opportunities. We’ve also signed a joint cooperation agreement with the Industrial Training Council (ITC) of the Ministry of Industry, Trade and Small and Medium Enterprises, to provide vocational training for youths with the aim of qualifying them to join various productive sectors in the labour market.”
Aside from its CSR activities, Sultan believes that the quality of its developments is what sets it apart from others. He adds: “Eleven projects from our portfolio have been delivered, inclusive of eight phases of Palm Hills October, Bamboo Extension, Hacienda White, and The Village. The company has currently 12 active projects - five in the East, five in the West, and two on the North Coast - all due for completion between 2016 and 2018.”
Sharing its real estate knowledge and experience is the focus of a project that Palm Hills Developments has recently decided to get involved in. Sultan says: “Capitalising on our leadership within the real-estate sector, we’ve decided to export such expertise via partnering with the government and the private sector in a continuous attempt to support housing provision. We’ve partnered with NUCA (New Urban Communities Authority) to co-develop 500 feddans in New Cairo. The project sales are expected to take place towards the end of 2016. We’ve partnered with Madinet Nasr Housing to co-develop 100 feddans of Capital Gardens in New Cairo extension within Sarai development, along Cairo Suez road and within close proximity from the new administrative capital. Capital Gardens was launched last December and has achieved tremendous results - almost 100 percent of the first tranche was sold out during the first week of launch, reinstating demand in the Egyptian real-estate marketplace. Such a project is a clear testament to our dynamic and adaptive approach while casting our net wider targeting the upper middle income segment.”
Palm Hills Developments is actively exploring new markets, says Sultan. “We’re planning to expand our land bank by venturing into new markets behind the frontiers, specifically Africa where we’re still exploring and researching. In addition, we’ve just secured a new land plot to complement our second home projects portfolio of 135 feddans in Ras El Hekma. Via our flagship North Coast projects, we’re opting to support the government plan in transforming Egypt’s North Coast into a whole year-round destination.”
It has certainly been a successful time for the company, as the financial results highlight – it achieved record results in 2015, delivering 1,573 units with gross sales exceeding 6 billion Egyptian pounds. Sultan says: “A key pillar behind such stellar results is what we pride ourselves in: being the employer of choice in Egypt, deploying the best talent pool across all specialisties and keeping them constantly engaged.” Palm Hills Developments prides itself on its people, describing them as its ‘most vital resource’ and the ‘driving force’ that enables it to achieve its vision and turn it into a reality success story.