Yasseen Mansour gains $5 million from Palm Hills stake

Key Points

• Yasseen Mansour’s stake in Palm Hills rose by $5 million in 26 days, fueled by a 12.56% share price jump.
• Palm Hills’ 2024 net profit more than doubled to $64.22 million, driven by strong project completions and resilient market demand.
• Palm Hills shares have gained 8.26% year-to-date, outperforming regional rivals and boosting investor confidence in Egypt’s real estate sector.

Egyptian billionaire Yasseen Mansour, chairman of Palm Hills Developments, has added more than $5 million to his wealth as shares of the Cairo-based real estate giant rallied on the Egyptian Exchange (EGX), boosted by strong earnings and renewed investor confidence.

Mansour’s Palm Hills stake rebounds sharply

Mansour, a leading figure in Africa’s ultra-wealthy circles and part of the influential Mansour family, owns an 11.26 percent stake in Palm Hills, about 324 million shares. In just 26 days, his stake increased by $5 million, driven by a 12.56 percent jump in share price.

This marks a strong comeback for Mansour, whose stake had earlier dropped by $3.5 million following a dip in the stock earlier this year. The latest rally has not only erased those losses but also put him in a stronger position as Palm Hills reports its best financial results yet.

Palm Hills profit doubles, shares rise

Palm Hills, a key arm of one of Egypt’s leading conglomerates, the Mansour Group, is one of the country’s top real estate developers. The company builds integrated residential, commercial, and resort communities across Egypt, and demand for its projects has remained strong despite economic headwinds.

In its 2024 fiscal year, Palm Hills posted record revenue of EGP27.17 billion ($535.98 million), a sharp jump from EGP17.46 billion ($344.51 million) the previous year. Net profit more than doubled, rising 105.81 percent to EGP3.26 billion ($64.22 million), thanks to higher project completions and steady demand in the market.

Since April 9, Palm Hills shares have gained 12.56 percent, climbing from EGP6.29 ($0.124) to EGP7.08 ($0.14) as of the latest market update. This surge has pushed the company’s market capitalization past $400 million. As a result, Mansour’s stake has grown to EGP2.3 billion ($45.31 million), up from EGP2.04 billion ($40.25 million), reflecting a significant recovery.

What you should know

Palm Hills’ shares, up 8.26 percent so far this year, have outperformed many of their regional rivals, reflecting growing confidence among investors. To put it simply, a $100,000 investment at the start of 2025 would now be worth $108,260, adding $8,260 in just four months.

With Egypt’s real estate market starting to regain its footing and Palm Hills posting stronger-than-expected results, Mansour’s fortune is climbing once again. It’s a clear sign that Egypt’s leading property companies are finding ways to push through even in a tough economy.