- Residential
About Badya
In September 2017, Palm Hills Developments (PHD) announced the signature of an agreement with the Egyptian New Urban Communities Authority (NUCA), with the purpose of co-developing an integrated residential community spreading over 12.6 million sqm (approximately 3,000 feddans) in West Cairo. The project is an integrated community offering apartment buildings, standalone units complemented with commercial, educational and leisure facilities.
Through this agreement, PHD will be responsible for the development and management of the project; all financing, construction, internal infrastructure, marketing and sales activities, while NUCA will be contributing the land bank alongside all associated external infrastructure to the boundaries of the project site alongside road network (currently under construction).
The integrated community will be developed between 2018-2038 with a total of 32,252 units (27,687 apartments & 4,565 standalone units). NUCA will be entitled to a revenue share of 26%, translating into c. EGP25.2 billion payable over 12 years to the Egyptian government, and an in-kind payment of a BUA of up to 422k sqm (consisting of 372k sqm of residential BUA and 50k sqm of commercial BUA).
Commercial components will spread over 12% of the land including: Education (international & local schools), Office (Grade A/B office complex), Retail (concentrated retail, super/hyper market), and Hospitality (luxury wellness resort & spa, 5-star hotel, conference centre and a hospital).
The project is expected to create 300,000 job opportunities. This is the single largest piece of land acquired by Palm Hills Development in its long history and represents a quantum leap for the Company moving it from developing integrated communities to developing a small city. The project’s investment cost is estimated at EGP150 billion
