Palm Hills Development’s shares have soared 13.37 percent since June 24, boosting Mansour’s stake to EGP1.37 billion ($28.53 million).
"Yasseen Mansour"
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Yasseen Mansour holds a significant 10.17 percent stake in Palm Hills, which amounts to approximately 299 million shares.
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Executive Chairman Yasseen Mansour attributed the impressive results to strong sales across various regions.
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Under Yasseen Mansour’s leadership, Palm Hills reported a $51.1 million profit at the end of its 2023 fiscal year, reflecting a robust …
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Despite the recent decline in the market value of his holding in Palm Hills, Mansour remains one of Egypt’s wealthiest men.
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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.
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Despite this setback, Mansour remains a prominent figure in the African business scene. Forbes estimates his current net worth at $1.2 billion.
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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.
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Mansour owns a sizable 5.6-percent stake in the Cairo-based real estate firm, which translates to 202,291,698 ordinary shares.
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Mansour owns a sizable 5.6-percent stake in the Cairo-based real estate firm.