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Orascom Development Egypt [ORHD]
This stock is among those we recommended as part of our 2026 strategy, with a target price of EGP 39. The company has direct exposure to the tourism sector through its projects in El Gouna (18 hotels) and Taba (6 hotels), in addition to Makadi Heights.
The company is also benefiting from the strategic location of its projects in the Red Sea area, which is receiving significant attention from both the government and private sector companies that have launched major tourism developments to stimulate tourism in the region.
At the end of 2025, the company signed an agreement with the government to develop a 1.02 million square meter land plot adjacent to the existing Makadi Heights project on the Red Sea coast. Under this agreement, the new land plot will be integrated into Makadi Heights, bringing the total project area to 4.75 million square meters. The development will include residential units, serviced apartments, as well as hotel and commercial components. The state will receive an in-kind share equivalent to 50% of the total project units.
During the first nine months of 2025, the company recorded revenues of EGP 17.2 billion, representing a 12% increase compared to the same period in 2024. Net profit for the same period reached EGP 3.8 billion, marking a 70% increase year-on-year.
Walaa Mosalam - Prime Research
WMosalam@egy.primegroup.org