Palm Hills Developments (PHD) has announced that it has signed an agreement with SWA Group, a landscape architecture, planning and urban design firm, to develop the master plan for the co-development project with the New Urban Communities Authority (NUCA) in East Cairo. PHD had announced last month that it had signed an agreement with NUCA for the co-development of an integrated residential community in East Cairo, spreading over c500 feddans (c2.1 million sqm), on a revenue sharing basis. Under the agreement, PHD will be responsible for the necessary internal infrastructure, development, construction, sales and marketing, and financing activities, whilst NUCA will be contributing the land and the external infrastructure. The project will include apartment buildings and standalone units, as well as commercial, educational and leisure components. The total revenue from the project is expected to be EGP33–EGP35 billion, including revenue from commercial and investment properties, with construction costs estimated at EGP12 billion. NUCA will be entitled for a revenue share of 42%, of which up to EGP10 billion will be in the form of annual cash payments for 13 years and an in-kind payment of a BuA of up to 150,000 sqm (132,200 sqm of residential BuA and 17,800 sqm of commercial BuA). Pre-sales and construction activities are both planned to start in 3Q2016. (Company disclosure)