الرئيس التنفيذي لشركة بالم هيلز المصرية لـ CNBC عربية: رفعنا الأسعار بنسبة 50-60% في 2023
Transcript
00:00 Our sales volume has increased by about 100% compared to the previous year.
00:06 Of course, there is a big part of it that reflects the increase in prices,
00:13 but we have the number of sales units, there is also a very noticeable growth.
00:21 And we have, of course, the biggest growth in the sales of Badia City,
00:26 which represents 50% of Palm Hills sales.
00:31 And Badia as an independent project, if you look at it as an independent company,
00:37 is one of the four largest developers in Egypt in terms of sales volume.
00:42 Yes. How much was the increase in the size of your prices and the change in the exchange rate?
00:51 From about 50% to 60% in 2023, the increase in prices.
00:58 Okay. And since we are talking about Badia today,
01:00 how much success does the project have, Mr. Hazem?
01:05 We have already started delivering in the late 2021.
01:13 Today, the first phase, or almost the end of the construction work,
01:20 and the deliveries are growing very noticeably.
01:25 We may be in the second phase, and the second phase is completely sold,
01:31 and we are also about to sell the entire third phase.
01:38 As you can see, Badia today has 15 billion pounds in sales volume,
01:45 with an increase of about 250% year on year, and we are continuing, God willing, in this expanded growth.
01:53 But how many units will enter the market from the project until the end of this year?
02:01 About a thousand units.
02:04 As deliveries, I mean.
02:06 By the end of 2023?
02:11 Exactly.
02:12 Okay. The project also includes Badia University, Mr. Hazem.
02:17 Where have you reached in the stages of the university's accomplishments so far?
02:20 I think it is four colleges.
02:23 In the advanced stages, God willing, the four colleges will open and work in September 2024,
02:30 in the next academic year.
02:32 We may be in the four colleges and the public building.
02:37 We have completed the basic constructions.
02:39 We will start in the construction stages.
02:42 We are on schedule to open in September 2024.
02:48 Even the sports projects in the project are happening in the same schedule as the delivery schedule?
02:57 The Ride to Dream Academy was opened.
03:00 It is open today, it has been open for four or five months,
03:05 with students and players, and it was officially opened by the State of the Prime Minister
03:11 about two weeks ago.
03:13 The Badia Club was established.
03:16 We have a small club that includes different sports,
03:21 and the swimming pool was also opened last year.
03:26 The development of the Badia project is going very well.
03:33 We have also been working on the part of funding.
03:37 We have issued about two years ago a grant of about 3 billion pounds for the funding of the first stage.
03:44 This is not the first time we have gone to the market for funding.
03:47 As I said, we are in the final part of the construction stages for the first stage.
03:55 We have consumed the largest part of the grants, but we are still consuming it.
04:00 This is enough for the funding of the first stage, which we will finish.
04:04 The second stage, the cash flow has started to look very good in Badia.
04:13 We have been spending about 5 billion pounds year-to-date,
04:18 more than 5 billion pounds in construction,
04:21 and more than a billion pounds of which is directed to Badia only.
04:24 In general, things are good.
04:28 - How much has the cost of funding increased during this period, Mr. Hazem?
04:33 Have you added anything to the development projects that you have issued?
04:37 Are there still direct borrowing from banks?
04:41 - In all stages, we prefer to have all the alternatives available in our funding cycle
04:52 between the trust of development funds for direct funding from banks,
04:57 in addition to the self-funding.
05:00 As the cost of borrowing has increased,
05:05 the cost of borrowing is also reflected in the issuance of development grants.
05:11 The idea is not that we look at the cost in general,
05:17 we leave all the alternatives with us,
05:19 and then when we need to make decisions, we have all the alternatives.
05:25 - How much land does the company currently have,
05:28 and how much is the developed land for Palm Hills?
05:35 - The land is about 26 million meters,
05:39 which is enough for us for more than 10 years.
05:44 We finally acquired 373 acres in the area adjacent to the main Palm Hills,
05:52 which is the main project on October 6, or Sheikh Zayed.
05:56 This is a very good land because we already have all our services
06:01 between King's School and the largest sports club that is currently operating,
06:06 which is the Palm Hills Sports Club,
06:09 in addition to commercial and entertainment facilities.
06:12 This gives us the opportunity to sell at exceptional prices
06:18 and make a profitable profit.
06:21 - We wish you success Mr. Hazem Badran,
06:23 CEO of the Egyptian Palm Hills Company.
06:25 You were with us from Cairo.