Palm Hills Developments has secured EGP 8 billion in financing from two major Egyptian state banks to support its work on a large project in New Cairo. The deal was reported on Friday, August 28, 2026, and adds fresh funding to one of the company’s key developments in eastern Cairo. The financing comes as Egypt’s real estate market remains an important part of the wider economy.
The money was provided by Banque Misr and the National Bank of Egypt. Palm Hills said on its own website that the two banks signed the EGP 8 billion financing deal in August. The company has not described the funding as a new project, but as support for its ongoing business and development plans. The deal shows that large property projects continue to attract major bank funding in Egypt.
Palm Hills New Cairo is one of the developer’s major projects in eastern Cairo. The company describes it as a 500 feddan integrated development with homes and other facilities. Its location in New Cairo places it near major roads, business areas and education centers. New Cairo has become one of the main areas for new housing and commercial growth around the capital.
The new financing is important because construction projects need large amounts of cash before homes and other facilities are finished. Developers must pay for land work, buildings, roads, public areas and services over a long period. Bank loans can help companies keep work moving while sales income comes in over time. For Palm Hills, the new funds provide more room to continue its plans in a key Cairo growth area.
The deal also comes after a period of strong activity for Palm Hills. In October 2025, the company reported new sales worth EGP 182 billion in the first nine months of that year. It also announced plans linked to land in the New Administrative Capital and an extension near its New Cairo project. Those plans showed the company’s focus on large developments in areas east of Cairo.
Egypt’s property sector has a major role in the national economy. Housing demand has grown as the population rises and more people move toward new urban areas. New Cairo is among the locations that have benefited from this shift. Large projects there are designed to offer housing, shops, services and open spaces in one planned community.
The financing may also help Palm Hills manage the rising cost of construction. Building materials, labor and other costs can place pressure on developers when projects take several years to complete. Access to bank credit can help firms keep projects on schedule and meet payments during different stages of construction. It can also give developers more flexibility when market conditions change.
Palm Hills has a wide development portfolio across Egypt. Its projects include communities in East and West Cairo, Alexandria, the North Coast and other areas. The company says its portfolio includes residential, commercial and resort projects, while its New Cairo development remains one of its major projects in eastern Cairo.
The EGP 8 billion deal therefore has significance beyond one housing project. It shows continued bank support for major private developments at a time when Egypt is seeking investment and economic growth. For New Cairo, the funding could help maintain construction and expand services as the area continues to grow.
