Egyptian business tycoon Yassen Mansour returns home

Ahram Online, Monday 2 Dec 2013

Egypt's fifth richest man will return to Palm Hills as chairman

Yassin Mansour
Yassin Mansour during an appearance on Egyptian TV (Photo: Ahram file)

Egypt's fifth richest man, Yassen Mansour, has returned to the country to resume managing the real estate developer Palm Hills Development Company as its chairman, according to a statement the company sent to the bourse on Monday.

Mansour was previously chairman of Palm Hills and of Credit Agricole Bank, but resigned and left the country after the fall of Hosni Mubarak when he was charged with corruption over the misappropriation of state land for Palm Hills. In July 2012 he was cleared of the charges.

Mansour, whose fortune is worth around $2 billion according to Forbes, is the brother of Mohamed Mansour and Youssef Mansour, who own the Egyptian conglomerate the Mansour Group.


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