Arab Finance: Palm Hills Development Company logged consolidated net profits after tax and non-controlling interest of EGP 2.264 billion in the first half (H1) of 2026, 7% year-on-year (YoY) lower than EGP 2.443 billion, according to the financial results.

Revenues jumped by 25.4% to EGP 19.528 billion in H1 2026 from EGP 15.579 billion in H1 2025.

EBITDA stood at EGP4.1 billion at the end of June 2026, translating into an EBITDA margin of 21%, versus 29% in H1 2025. The contraction in EBITDA margin largely reflects the lower gross margin during the period.

Yasseen Mansour, Executive Chairman, commented: “Our revenue backlog grew to a record EGP284 billion, up 40% y-o-y, driven by sales in our key projects of focus across all regions, with the share of backlog from the West Cairo and North Coast.”

“We continued to invest in expanding our recurring income platform, advancing construction across our developments, and selectively pursuing strategic opportunities that strengthen our long-term land bank and future earnings visibility,” he added.

As for its Hacienda Ras El-Hekma project, the company recorded sales totaling EGP 75 billion during the first two weeks of the launch and as of the close of business on Monday, August 17.

Palm Hills noted that the sales will be reflected in the third quarter (Q3) of 2026 as new sales.

In the first quarter (Q2) of 2026, the real estate developer posted 21.72% YoY lower consolidated net profits after tax at EGP 1.205 billion, versus EGP 1.539 billion.