Table of Contents
Key Points
- Yasseen Mansour drives Egypt's economic landscape with investments in real estate, automotive, retail, and education, shaping sectors crucial to growth.
- Palm Hills, led by Mansour, is a real estate powerhouse with a 33-million-square-meter land bank and major projects boosting Egypt’s luxury property market.
- Mansour Group, founded in 1952, is a global conglomerate spanning industries from automotive to logistics, with strong ties to international brands like Caterpillar and HP.
Egypt’s billionaire class isn’t just shaping industries—it’s shaping the country itself. From real estate and finance to retail and manufacturing, these business leaders don’t just navigate Egypt’s economic landscape; they define it. Few exemplify this more than Yasseen Mansour, whose reach extends across sectors critical to Egypt’s private sector growth.
A key player in the country’s real estate boom, Mansour has turned Palm Hills Developments into a powerhouse, catering to an expanding class of high-net-worth Egyptians and foreign investors drawn to the country’s luxury property market. With a 10.83 percent stake in the company, Palm Hills is not only a part of his $1.2 billion fortune but a driver of Egypt’s evolving urban landscape. The firm’s 33-million-square-meter land bank and 38 large-scale developments reflect a long-term vision for Egypt’s housing and tourism sectors.
Yet, real estate is just one piece of the empire. Mansour played a pivotal role in introducing McDonald’s to Egypt through Manfoods, tapping into a fast-growing consumer market that craves global brands. His family’s conglomerate, Mansour Group, holds exclusive partnerships with international giants like Caterpillar, HP, and Credit Agricole, reinforcing its influence in industries that power Egypt’s economy. Through years of political shifts and economic volatility, he has maintained his footing, proving that adaptability is as valuable as wealth itself.
The Mansour name is not confined to boardrooms or balance sheets. The family has made a mark in philanthropy, focusing on education and entrepreneurship to drive broader economic empowerment. Even as Egypt faces challenges such as the devaluation of the Egyptian pound, inflation, and shifting policies, Yasseen Mansour’s business ventures stand as an example of resilience and strategic growth.
From real estate to retail, banking to logistics, Billionaires.Africa examines seven companies that define his financial footprint:
Founded in 1952, Mansour Group is a family-owned global conglomerate with operations spanning automotive, capital markets, consumer and retail, industrial equipment, technology, logistics, and services. Yasseen Mansour is a part-owner and board member, alongside his brothers Mohamed Mansour, who leads the conglomerate, and Youssef Mansour, who also serves as a board member and co-owner. The company was established by their father, Loutfy Mansour, initially as a cotton exporter. Over the years, it expanded into new industries, becoming the sole authorized dealer of Caterpillar products in Egypt in 1977. Growth continued with the acquisition of Unatrac, Unilever’s Caterpillar dealership in East and West Africa. In 2000, Unatrac merged with Mantrac, forming Mantrac Group, a key player in the heavy equipment industry. During the COVID-19 pandemic, Mansour Group contributed $11 million to support relief efforts, reinforcing its commitment to corporate responsibility.
Palm Hills Developments, a Cairo-based real estate firm and part of the Mansour Group, is a major player in Egypt’s residential, commercial, and resort property sectors. Under the leadership of billionaire Yasseen Mansour, the company has achieved strong financial results, reporting over $60 million in profit and EGP27.17 billion ($535.98 million) in revenue for the 2024 fiscal year. Mansour, who serves as Chairman and Group CEO with a 10.83 percent stake, has overseen Palm Hills’ growth since its founding in 1997, turning it into one of Egypt’s top real estate firms. With a market valuation of EGP19.24 billion ($380.2 million), it ranks as the 26th most valuable company on the Egyptian Exchange. Palm Hills continues to expand through major projects, including Badya, Palm Hills New Cairo, Palm Hills Alexandria, and The Crown, strengthening its position in Egypt’s real estate market.
Mansour Automotive Co., the flagship division of the Mansour Group, is one of the largest General Motors (GM) dealers worldwide, selling over 75,000 vehicles annually. It also ranks as the fifth-largest distributor of Caterpillar Inc., highlighting its significant presence in the heavy equipment sector. The company offers a diverse portfolio, with key franchises such as Opel, MG, Chevrolet, Isuzu, and Peugeot, which has solidified its leadership in the automotive market. While it has a strong foothold in Egypt, Mansour Automotive has also expanded its reach to Ghana, Libya, Iraq, Uganda, and other parts of sub-Saharan Africa, leveraging an extensive distribution network to fuel its international growth. The company is also a trusted partner to global brands like McDonald's, Caterpillar, and Kraft Foods, supplying refrigerated trucks that meet the highest industry standards. Billionaire Yasseen Mansour, who joined Mansour Automotive in 1986, has played a pivotal role in the company’s growth. His leadership has helped steer the company towards continuous innovation and expansion, reinforcing its position as a key player in the global automotive industry.
In 1994, Yasseen Mansour founded Manfoods-McDonald's Egypt, securing the license to develop and operate the McDonald's brand in the country. The company opened its first two restaurants in the Merghany and Mohandessin areas, marking the start of its journey in Egypt. Today, Manfoods remains the exclusive operator of McDonald's in the country, with more than 190 outlets spread across various governorates. The company serves hundreds of thousands of customers daily and creates over 40,000 direct and indirect jobs through its restaurants and partnerships across Egypt.
Taaleem Management Services is a leading education provider in Egypt, playing a pivotal role in the country’s private higher education sector. Yasseen Mansour holds a 29.6 percent stake in Taaleem through Palm Hills Developments, representing 216,112,769 shares. His recent acquisition of additional shares, valued at EGP505.6 million ($10.46 million), increased his direct holding to 18.3 percent. This strategic investment reinforces Mansour’s commitment to expanding Egypt’s private university network and enhancing access to quality education across the country.
- El Mansour and El Maghraby for Investment and Development
As President and CEO of El Mansour and El Maghraby Investment & Development Co. (MMID), Yasseen Mansour steers the company’s investment strategy across real estate, finance, technology, telecommunications, tourism, and media. Founded in 1996 as a private equity holding vehicle, MMID serves as a strategic arm of the Mansour family’s business empire. Under Mansour’s leadership, the firm has secured major stakes in Crédit Agricole Egypt and Palm Hills Developments, while executing key portfolio moves, including divestments and share buybacks. His role at MMID underscores his influence in shaping emerging market opportunities and driving Egypt’s investment landscape.
- Macor Hotels
Under Yasseen Mansour’s leadership, Palm Hills Developments has strengthened its position in the hospitality sector by increasing its stake in Macor Hotels from 60.3 percent to 69.8 percent through a 9.5 percent acquisition from El Mansour and El Maghraby Investment & Development Co. This move reinforces Palm Hills’ dominance in Macor Hotels and aligns with Mansour’s broader strategy to diversify the Mansour Group’s portfolio. With enhanced control, Palm Hills can better integrate real estate and hospitality, driving synergies and a stronger competitive edge in the regional market.
