Egyptian billionaire Yasseen Mansour’s company records $131-million revenue in Q1 2024
Executive Chairman Yasseen Mansour attributed the impressive results to strong sales across various regions.
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Executive Chairman Yasseen Mansour attributed the impressive results to strong sales across various regions.
Under Yasseen Mansour’s leadership, Palm Hills reported a $51.1 million profit at the end of its 2023 fiscal year, reflecting a robust 25.9 percent year-over-year increase.
Despite the recent decline in the market value of his holding in Palm Hills, Mansour remains one of Egypt’s wealthiest men.
MMID divested 39.4 million shares of Palm Hills on April 7, 2024, for a total of EGP141.5 million ($2.98 million) at an average price of EGP3.59 ($0.0755) per share.
This significant increase reinforces Mansour’s position as one of Egypt’s and Africa’s billionaires, solidifying his position among the continent’s financial elites.
Mansour highlighted the company’s record-breaking new sales of EGP59.5 billion ($1.92 billion), indicating a growth of 129 percent year-on-year.
Mansour owns a sizable 5.6-percent stake in the Cairo-based real estate firm, which translates to 202,291,698 ordinary shares.
Mansour owns a sizable 5.6-percent stake in the Cairo-based real estate firm.
The $200-million surge in Mansour’s fortune in 2023 is largely linked to his investment in the family-owned conglomerate Mansour Group.
Mansour, the chairman of Palm Hills Developments, owns a 7.29-percent stake in the leading real estate group.
Mansour owns a substantial 6.87-percent stake, which translates to 202,291,698 ordinary shares in the Cairo-based real estate firm.
Under the leadership of Mansour, Palm Hills has become one of Egypt’s leading real estate companies.
Mansour, the group’s chairman, maintains a 7.29-percent ownership interest in Palm Hills Developments.
Egyptian billionaire Yasseen Mansour retains a 7.29-percent ownership stake in Palm Hills Development.
Mansour owns a substantial 6.87-percent stake in Palm Hills Development, or 202,291,698 ordinary shares.
Mansour owns a significant 5.22-percent stake in Palm Hills Developments