Billionaire Yasseen Mansour’s Palm Hills Developments budgets $243 million for 2022

Palm Hills Developments, the property company controlled by Egyptian billionaire Yasseen Mansour, has set aside 4.5 billion Egyptian pounds ($243 million) for development work in 2022.

According to a report by Zawya, PHD plans to deliver 2,000 units across all of its projects this year, according to Mansour, who serves as chairman of the company. PHD also plans to open four phases of its new Badya project in West Cairo.

Mansour also stated that the EGX-listed developer is aiming for sales of 20 billion pounds ($1.1 billion) in 2022.

Palm Hills Developments completed an Islamic Sukuk issuance for 3.25 billion pounds ($176 million) last month in partnership with Sarwa Capital to support the construction of its Badya project.