Egyptian billionaire Yasseen Mansour, chairman of Palm Hills Developments, has seen a significant increase in his fortune in the past 15 days, due to the sustained surge in the shares of Palm Hills Development on the Egyptian Exchange EGX .
According to data tracked by Billionaires.Africa , Mansour's stake in Palm Hills have surged by EGP296.17 million 6.06 million since Aug. 5. This follows a broader trend of rising local investment in the Cairo-based real estate firm, which has seen its stock price climb significantly.
This recent gain adds to a previous gain of 3.36 million recorded between June 24 and July 11 , when Mansour's stake in the leading Cairo-based group, surged from EGP1.21 billion 25.17 million to EGP1.37 billion 28.53 million.
Palm Hills shares surge 24.6 percent in AugustPalm Hills Development , an operating subsidiary of Egypt's largest conglomerate, Mansour Group, is a well-known real estate developer with active investments in Egypt. The company develops integrated residential, commercial, and resort communities.
