Palm Hills rally lifts Yasseen Mansour stake near $100 million

Egyptian billionaire Yasseen Mansour has strengthened his position among the wealthiest investors on the Egyptian Exchange (EGX) as the market value of his stake in Palm Hills Developments, a leading real estate company, approaches the $100 million mark.

Mansour, who chairs Palm Hills, controls a 12.95% stake in the company, equivalent to 370.34 million shares, underscoring his position as a key anchor shareholder in one of Egypt’s leading real estate developers.

A sustained rally in the company’s stock has lifted the market value of his holdings by more than 50% over the past four months, adding about EGP1.74 billion (nearly $30 million) to his portfolio and reflecting renewed investor appetite for Egyptian property stocks.

Stake surge tracks Palm Hills’ market rally

Shares of Palm Hills have risen sharply since the start of 2026, climbing from EGP8.61 ($0.16) to EGP13.3 ($0.25). This surge has pushed the company’s market capitalization above EGP38 billion ($720 million).

As a result, Mansour’s stake has increased from EGP3.19 billion ($66.86 million) to EGP4.93 billion ($93.43 million), reflecting a gain of more than 54% in local currency terms.

The rally positions Palm Hills among the top-performing property stocks on the EGX this year, driven by strong earnings growth and expanding investor appetite for real estate assets.

Strong earnings and backlog drive growth

Palm Hills’ financial performance has reinforced the stock’s upward trajectory. The company reported a 30% increase in net profit to EGP4.21 billion ($79.86 million) in 2025, up from EGP3.25 billion ($61.65 million) a year earlier. Revenue climbed 33% to EGP36.16 billion ($685.92 million), driven by strong new sales and continued recognition of backlog, which surged by 63.27% to EGP240 billion ($4.55 billion) across its developments.

The company’s balance sheet also expanded significantly, with total assets rising to EGP172.12 billion ($3.27 billion) from EGP123.43 billion ($2.34 billion) in 2024, highlighting the scale of its operations and ongoing investments.

Strategic expansion strengthens pipeline

Palm Hills is also advancing its development pipeline through strategic partnerships. The company recently teamed up with UAE-based Miran Hills Real Estate to launch a large-scale coastal project in Ras El Hekma.

The development will span 5.65 million square meters and include over 4.8 kilometers of beachfront, with sales expected to begin in the summer. The project adds to Palm Hills’ portfolio of integrated residential, commercial, and resort communities across Egypt.

Currency pressures temper dollar returns

Despite strong gains in local currency terms, foreign investors have recorded more tempered returns, weighed down by the depreciation of the Egyptian pound. Year-to-date, dollar-adjusted gains stand at 39.75%, compared with a 54.47% rise in local currency.

The divergence underscores the impact of currency volatility on foreign portfolio returns, dampening overall performance even as underlying business fundamentals and equity valuations remain robust.

The rise in Mansour’s stake value to nearly $100 million, being a strategic part of his $1.4 billion fortune, reflects a broader resurgence in Egypt’s real estate sector, a key pillar of the country’s economy. For investors, Palm Hills’ performance signals renewed confidence in Egypt’s property market, similar to momentum seen in other emerging-market real estate cycles. The sector’s growth also has spillover effects on construction, financing, and urban infrastructure development.