Palm Hills, led by Yasseen Mansour, secures $18.2m UAE deal

Cairo-based real estate leader Palm Hills Developments, led by Egyptian billionaire Yasseen Mansour, has expanded its Gulf footprint after securing shareholder approval for a dual-structured move that includes $18.2 million financial lease agreement with Incolease and the formal licensing of the Palm Hills brand for commercial use in the United Arab Emirates.

The resolutions, ratified during the company’s ordinary general meeting on December 10, mark one of Palm Hills’ most strategic cross-border steps since signalling its intention earlier this year to build a permanent presence in the Gulf through Palm Hills Development Holding Ltd, its newly established entity at the Abu Dhabi Global Market (ADGM).

Palm Hills strengthens domestic financing through Incolease deal

The approved financial lease transaction with International Company for Leasing (Incolease) represents one of the company’s largest structured-financing arrangements in recent years.

The facility, designed to support ongoing construction pipelines, land payments, and capital needs across the group’s Egypt portfolio, extends a financing envelope of nearly EGP 865.9 million ($18.2 million), giving Palm Hills additional liquidity at a time of heightened costs across the Egyptian real estate market.

The partnership builds on a decade-long relationship between the two companies, with Incolease serving as one of Palm Hills’ recurring non-bank financing partners, particularly for large-scale residential and mixed-use developments.

Palm Hills enters the UAE with trademark licensing move

Alongside the lease approval, shareholders authorized a brand-use agreement with the group’s ADGM-based subsidiary, enabling the Palm Hills trademark to be deployed legally across the UAE for sales, marketing, and prospective development activities.

The deal formalizes Palm Hills’ Gulf expansion strategy following months of exploratory activity in Abu Dhabi and Dubai. It positions the company to market Egypt-based projects to Gulf buyers through licensed branding, negotiate potential joint ventures or land acquisitions in the Emirates, and build a new revenue line from franchised sales operations

For Palm Hills, one of Egypt’s best-known premium real estate brands, the UAE approval is a significant milestone as demand for Egyptian coastal and residential properties accelerates among Gulf investors.

Expanding footprint in the Gulf

Palm Hills Developments, a subsidiary of Egypt’s largest conglomerate, Mansour Group, has built a strong reputation as one of the country’s leading real estate developers. As Egypt’s second-largest listed real estate firm, Palm Hills has consistently delivered strong financial performance. 

Yasseen Mansour, who holds a 10.17 percent stake, has played a key role in the move that represents a calculated step toward building a pan-regional lifestyle and real estate brand, anchored in Egypt but scaled through the Gulf. Palm Hills now positions itself at an inflection point: profitable at home, expanding abroad, and actively leveraging its brand to capture Middle Eastern capital and demand.