Palm Hills, Egypt's second-biggest listed property developer, said on Monday it had reached two land sale agreements and one land purchase agreement in Egyptian deals with a net value of LE481 million ($63 million).
The firm said in a statement the deals were part of a strategy to exit untapped real estate investments and unutilised sites that are not part of its plans while increasing cashflow in existing projects.
Last month Palm Hills said it had completed a LE1.62 billion share sale to fund growth.
