Skip to content
Palm Hills Developments' revenue surged 55.6% to $536 million in 2024, doubling profits as unit sales soared as strong asset growth cements its market leadership.
By entering the UAE, Palm Hills is tapping into the Gulf’s booming real estate sector, where demand for high-end residential and commercial developments remains strong.
This marks a significant step in Elsewedy Electric’s expansion into Europe, reinforcing its presence in the global energy infrastructure market.
Sawiris cautioned that the ambitious projects require substantial foreign currency, straining Egypt’s economy.
Egypt’s TMG Holding posts record $10 billion sales in 2024, a 253% surge, driven by expansion into Saudi Arabia and major North Coast projects.
With his net worth now at $7.27 billion, Sawiris remains Egypt’s second-richest man, trailing his younger brother, Nassef Sawiris, who is worth $8.99 billion.
His plan focuses on housing, infrastructure, and international cooperation to address the crisis.
The funding marks a significant step in expanding tech investment across Africa, with a particular focus on Francophone regions and major startup hubs.
Even with this decline, Moustafa remains one of Egypt’s wealthiest individuals, backed by his significant holdings in TMG.
Despite recent setback, Sawiris' wealth is up by $261 million YTD, driven by early 2025 gains and strong performance in his diverse portfolio.
Sadek El-Sewedy’s stake in Elsewedy Electric has surged to nearly $930 million, reflecting strong investor confidence and stock price growth.
This funding supported the launch of a fully upgraded Children’s Emergency Department and a modern Blood Transfusion and Chemotherapy Center.
The rise in the market value of his stake in Adidas, from $3.1 billion to $3.35 billion, comes on the back of a strong rally in the company’s shares.
Since the start of 2025, their shares have increased by $13.32 million, bringing the market value to $200.36 million.
The El-Sewedy family leads a diverse portfolio of energy, electrical, and infrastructure companies across the Middle East and Africa.
Mansour, one of Africa’s leading business leaders, holds a 10.83-percent stake in the Cairo-based real estate firm, equating to 318,574,726 shares.