Egyptian billionaire Yasseen Mansour’s Palm Hills settles $6.3 million North Coast dues

Palm Hills Developments, the Egyptian real estate company chaired by billionaire Yasseen Mansour, has settled EGP300 million ($6.3 million), representing 10 percent of the total fees due on its North Coast projects, according to a filing with the Egyptian Exchange. 

The payment covers the company’s three developments in the area and includes the share of its partners who jointly own the land. Another 10 percent of the fees will be paid within a year, while the balance will be settled in installments over five years, subject to a 10 percent declining interest rate.

Strong sales amid a tough economy

Palm Hills has remained one of Egypt’s more resilient developers despite persistent economic pressures and currency volatility.  The company reported a 40 percent rise in sales to EGP182 billion ($3.8 billion) in the first nine months of 2025, up from EGP 150 billion ($3.1 billion) a year earlier. The company said the performance was supported by consistent demand for master-planned communities and by its focus on delivery schedules.

Expanding beyond Egypt

With a 10.17 percent personal stake, Mansour has guided Palm Hills through years of market shifts, steering it toward a balance of high-end residential, commercial, and resort developments. The company’s portfolio now stretches across West and East Cairo, Alexandria, and Egypt’s Mediterranean coast. 

In June, Palm Hills broke ground on Jirian, its first project in the New Delta region, expected to generate about EGP 200 billion ($4.2 billion) in total sales. A month earlier, it unveiled its first international project near Abu Dhabi’s Saadiyat Island—marking a step into the Gulf market and underscoring Mansour’s effort to position the firm as a regional player. 

For Mansour, whose family is among Egypt’s most influential business groups, Palm Hills’ steady expansion reflects both confidence in Egypt’s property market and a calculated approach to growth that balances risk with opportunity.