Billionaire Yasseen Mansour's Palm Hills is bringing a city-scale luxury project to Egypt's most coveted coastline

Ras El-Hekma is already one of the most talked-about stretches of coastline in the Middle East. Yasseen Mansour just made it more interesting.

Palm Hills Developments, the Egyptian property group chaired and led by Mansour, announced April 20 a partnership with UAE-based Miran Hills Real Estate to develop a city-scale luxury project along Egypt's North Coast. The joint disclosure was filed to the Egyptian Stock Exchange the same day. Sales are expected to begin in summer 2026.

The numbers behind the project are striking. The development will span 5.65 million square meters, with more than 4.8 kilometers of direct beachfront. It will include residential communities, international-standard hotels, a flagship sports club, beachfront dining venues, a wellness center and a spa. The total investment size has not been disclosed.

Mansour said the project builds directly on what Palm Hills has spent nearly three decades doing. "Ras El-Hekma has emerged as the premier destination on Egypt's North Coast, a thriving Mediterranean city offering a sublime way of life, all year round," he said. "The project will leverage our proven expertise in creating vibrant, luxurious and sustainable communities."

Hisham Malak, managing director of Miran Hills Real Estate, framed the deal as a commitment to bringing world-class development to one of the region's most exceptional locations. The combination of Miran Hills' luxury vision with Palm Hills' local execution track record is what the partnership is built on, he said, adding that the project is designed to set a new benchmark for living on the North Coast.

The backdrop to the deal is a coastline that has attracted more than $60 billion in North Coast megaproject commitments from UAE, Qatari and regional investors over the past two years alone. The $35 billion Ras El-Hekma master development, one of the largest single foreign investments in Egypt's history, was signed between Cairo and Abu Dhabi in February 2024. Total investment across that master project is expected to reach $150 billion over its full life. The Palm Hills-Miran Hills project is the latest addition to a rapidly thickening development pipeline in the zone.

Egypt's real estate sector has drawn sustained foreign interest despite regional tensions. Net investment inflows from real estate purchases by non-residents reached $732 million in 2025, and developers operating on the North Coast have reported stable demand even as geopolitical uncertainty elsewhere has weighed on investor sentiment in the region.

Palm Hills Developments has delivered more than 35 projects across Egypt since its founding, covering West Cairo, East Cairo, Alexandria and the North Coast. The Ras El-Hekma partnership marks its most ambitious coastal commitment to date, and its first major joint venture with a UAE-based developer in the zone.

The North Coast development race is intensifying. Mansour is making sure Palm Hills is running near the front of it.