Yassin Mansour, head of Palm Hills Development and president of Al-Ahly Football Company, revealed in an interview with Al-Arabiya that the value of the Badia project, which is located on 3,000 acres (12.6 million meters), is 100 billion pounds, while it is estimated Target sales value About 170 billion pounds.
Mansour described real estate as traditionally a safe investment in case of high inflation rates, predicting a 10% increase in property prices in Palm Hills projects in 2022.
Mansour did not appear worried about the project’s pricing, but said the hikes will be at their lowest limits, expecting the acceleration in inflation to subside during the next phase.
He explained that the implementation of the “Badia” project is planned in 7 phases, of which 6 housing units with an administrative part, and there is a phase which will include an administrative part, indicating that they are currently in work underway for the first phase, and we will start the second phase soon.
And he talked about aiming for the offer in purse of 49% of Al-Ahly Football Company after increasing revenues, explaining that the delay in this moment is caused by the drop in revenues resulting from the interruption of football activity due to the effects of the pandemic.
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