Hyde Park for development, an associate of Housing and Development Bank (HDB), kick started an EGP12.5bn project in the Northern Coast in Egypt called Coast 82. The company’s Chairman Amine al-Saraj said that the Coast 82 project, which is a partnership with a Saudi investor, will encompass 500 villas and 600 chalets, with a 550 meters beach-front space. The project will cover a total surface of 225 feddans and includes three hotels. In addition to the Coast 82, Hyde Park launched Phase 2 of its Park Corner project, with a total investment of EGP3bn and a total surface of 235,000 sqm. 

Housing & Dev. Bank: EGP34.90 as of 30 Mar. 2017, Rating: Buy, TP: EGP34.00/share, MCap: USD242mn, HDBK EY/HDBK.CA