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Palm Hills Developments is targeting over USD 7 billion in sales from its first UAE project, Saadiyat Shores, which spans 1.87 million square metres in Abu Dhabi and will cost around USD 5.4 billion to develop. Construction is planned for April or May 2026, with deliveries expected three to three-and-a-half years later. The company is securing financing from UAE banks and exploring additional projects in Abu Dhabi and Dubai. Beyond the UAE, potential developments in Riyadh and Jeddah indicate a wider Gulf expansion strategy.
Egyptian real estate developer Palm Hills Developments is aiming for sales exceeding USD 7 billion from its debut project in the United Arab Emirates, according to chairman Yassin Mansour. The company intends to begin construction next spring. Advertisement
The project, named Saadiyat Shores, is spread across a 1.87 million square metre (0.72 square mile) plot in Abu Dhabi and is estimated to cost around 20 billion dirhams (USD 5.4 billion) to complete. Palm Hills is currently coordinating with local authorities to obtain the final approvals for the development.
Construction is slated to start in April or May 2026, with delivery expected approximately three to three-and-a-half years later. Mansour indicated that buyers from Europe, the United States, Egypt, and several Asian countries are expected to drive demand.
The company is engaging with UAE banks for financing and anticipates signing term sheets shortly. Palm Hills is also exploring a second development in Abu Dhabi, alongside potential opportunities in Dubai.
Looking beyond the UAE, the developer is evaluating projects in Saudi Arabia, with Riyadh and Jeddah being the key cities under consideration. These moves reflect the company's broader strategy to expand its footprint across the Gulf region.
Source Reuters
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