Yasseen Mansours Palm Hills stake surged over 4 million in 6 days as shares climbed 9.64 on the Egyptian Exchange.
Mansour owns 324 million shares, now worth 47.31 million, reinforcing his position among Egypts top real estate moguls.
Palm Hills shares are up 11.31 year-to-date, signaling strong investor confidence despite Egypts economic challenges.
Egyptian billionaire and real estate tycoon Yasseen Mansour has watched the value of his stake in Palm Hills Developments jump by EGP207.54 million 4.16 million in just under a week, following a sharp uptick in the companys share price on the Egyptian Exchange EGX.
Mansour, one of Egypts most influential businessmen and a key member of the billionaire Mansour family, holds an 11.26 percent stake in the Cairo-based developer, amounting to 324 million shares. Over the past 15 days, the companys stock has risen by 9.64 percent, boosting Mansours stake from EGP2.15 billion 43.15 million to EGP2.36 billion 47.31 million.
This latest increase builds on a previous gain of around 5 million between April 9 and May 6. During that period, his stake rose in value from EGP2.04 billion 40.25 million to EGP2.3 billion 45.31 million, underscoring a consistent rise in his stake in the real estate company.
Palm Hills stock outperforms regional peersPalm Hills, part of one of Egypts biggest conglomeratesthe Mansour Groupis among the countrys leading real estate developers. The company focuses on creating integrated residential, commercial, and resort communities throughout Egypt. Despite ongoing economic challenges, demand for its projects has stayed strong.
Since May 19, Palm Hills share price has climbed from EGP 6.64 0.1331 to EGP 7.28 0.1459, pushing the companys market value over 420 million. This growth highlights Palm Hills as a key player in Egypts real estate market.