Egyptian billionaire Yasseen Mansour’s Palm Hills expands to UAE in bold gulf expansion

Key Points

• The Egyptian developer is launching two subsidiaries in Abu Dhabi, tapping into the Gulf’s booming real estate market.
• Palm Hills authorized a key executive to oversee tenders and contracts with Saudi Arabia’s National Housing Company.
• The board approved executive appointments for the UAE expansion and a new Arab African International Bank representative on its board.

Palm Hills Developments, led by Egyptian billionaire Yasseen Mansour, is expanding beyond North Africa with the launch of two subsidiaries in the United Arab Emirates. The move marks a significant step in the Cairo-based real estate firm’s regional growth strategy.

The company will establish a subsidiary in Abu Dhabi Global Market (ADGM), the emirate’s financial hub, along with a wholly owned limited liability company in Abu Dhabi. By entering the UAE, Palm Hills is tapping into the Gulf’s booming real estate sector, where demand for high-end residential and commercial developments remains strong.

Strengthening gulf ties: UAE expansion and Saudi market focus

During a board meeting on Feb. 25, Palm Hills approved key leadership appointments for its new ADGM subsidiary. Mansour will be joined by Tarek Mohamed Salah El-Din Tantawy, Aly Thabet Sayed Farghaly, and Hazem Mohamed Magdy Khalil Badran—seasoned executives with deep experience in real estate and financial management.

Beyond the UAE, Palm Hills is also ramping up its focus on Saudi Arabia. The board has authorized Magid Ahmed Sami Mohamed Sherif to represent the company before the Kingdom’s National Housing Company (NHC). He will oversee Palm Hills’ participation in tenders, contract negotiations, and other key dealings with NHC, reinforcing the company’s position in Saudi Arabia’s fast-growing housing market.

Leadership changes and operational updates

In another board decision, Palm Hills approved a leadership change involving its partnership with Arab African International Bank (AAIB). Tamer Mohamed Wahid El-Din Abdallah Badawy will replace Amani Samir Abdel Fattah as AAIB’s representative on the company’s board, following an official nomination from the bank.

The board also granted Omar Hassan Hisham Mansour Mustafa Kamel Mansour authority to handle lease agreements for the company’s sales offices in Egypt and abroad. His name will be added to the list of authorized signatories in the commercial registry, streamlining Palm Hills’ operational processes.

Expanding footprint in the MENA region

Palm Hills Developments, a subsidiary of Egypt’s largest conglomerate, Mansour Group, has built a strong reputation as one of the country’s leading real estate developers. The company focuses on integrated residential, commercial, and resort communities.

As Egypt’s second-largest listed real estate firm, Palm Hills has consistently delivered strong financial performance. Yasseen Mansour, who holds a 10.17% stake, has played a key role in the company’s growth, capitalizing on the strong demand in Egypt’s property market.

With its latest expansion into the UAE and growing involvement in Saudi Arabia, Palm Hills is strengthening its position in the Gulf’s dynamic real estate sector while reinforcing its leadership for long-term growth.