Yasseen Mansour’s Palm Hills books $1 billion in Q1 sales

Key Points

• Palm Hills posted $1 billion in Q1 sales, soaring 148% year-on-year, powered by strong demand across core projects like Badya, New Cairo, and Palm Hills Alexandria.
• The quarter excludes upcoming North Coast sales, which added EGP90B in 2024 alone, signaling further upside and a likely beat of full-year targets.
• The firm is expanding regionally, launching UAE subsidiaries via ADGM and boosting its Saudi footprint through tenders with the National Housing Company.

Palm Hills Developments, the property firm led by Egyptian billionaire Yasseen Mansour, kicked off 2025 with a blistering sales performance, reaffirming its grip on Egypt’s fast-growing housing market. For the first three months of its 2025 fiscal year, the real-estate company registered fresh sales of $1 billion, powered by sustained demand across its existing projects.

Palm Hills’ Q1 sales leap 148% to $1 billion on Egypt boom

In its latest filing on the Egyptian Stock Exchange, the property company booked EGP80.2 billion ($1 billion) in new sales, a 148 percent year-on-year surge from EGP32.2 billion in Q1 2024. It also more than tripled from the EGP21 billion posted in Q4 2024, fueled by strong demand across its core developments, including Badya, Palm Hills New Cairo, Palm Hills Alexandria, and the upmarket P/X project. 

Notably, the first-quarter performance excludes upcoming North Coast sales, scheduled to commence in May, which last year alone contributed EGP90 billion ($1.8 billion), underscoring upside potential for the months ahead. This performance puts the developer firmly on track to achieve its full-year sales target of EGP200 billion ($2.5 billion), up 33 percent from 2024.

Riding this momentum, the Cairo-based developer is doubling down on its regional expansion, launching two subsidiaries in the UAE via the Abu Dhabi Global Market (ADGM) and closing the gap with regional rivals like Talaat Moustafa Group. Simultaneously, the firm is deepening its presence in Saudi Arabia, advancing tender bids and strategic engagements with the National Housing Company as part of its broader Gulf strategy.

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 percent stake, has played a key role in the company’s growth, capitalizing on the strong demand in Egypt’s property market. 

With its strong start in 2025, the company’s performance reflects a broader wave of demand for branded, master-planned communities in Egypt, with Mansour’s portfolio increasingly benefiting from early-mover advantages and diversified project geography.