In a report, the division stated that the stock's performance year-to-date has not yet reflected the company's strong operational performance or the positive returns from new expansions, including the Group's aspirations for projects in Iraq and Oman.
The report added that the stock remains at the top of EFG
Hermes' preferred list in the Egyptian market, given the strong performance
achieved by the Group's various sectors during the first half of 2025. This
performance is expected to continue with anticipated strong sales in the third
quarter from its North Coast projects.
The launch of the Sharm Bay project and new expansion in
Oman, along with increasing sales for the Banan project in Saudi Arabia as a
new foreign ownership law takes effect in January 2026, are all expected to
boost the stock's performance.
The report noted that any developments regarding the Group's potential participation in the Ras El Hekma project would be additional positive news that would support investor confidence in the company.