Mayar El Ashry

Al Ahly Pharos Securities Brokerage

Senior Equity Analyst @ Al Ahly Pharos Securities Brokerage

Mayar is Senior Equity Analyst in charge of coverage of real estate and hospitality stocks in Egypt. She has achieved the top ranking on Bloomberg for all stocks under her coverage. She graduated from the American University in Cairo with a Bachelor of Business Administration degree with a concentration in Finance and a double minor in Economics and History. 

Mayar El Ashry
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Latest articles from Mayar El Ashry

Egypt Real Estate 2022: Macro supportive, but operational challenges ahead

We believe real estate will continue to be viewed as a store of value, especially in light of expected higher inflation in 2022. In order for developers to mitigate the effect of this expected cost increase, we expect them to increase selling prices ...
Al Ahly Pharos Securities Brokerage Mayar
Mayar El Ashry @ Al Ahly Pharos Securities Brokerage 25 November 2021

Palm Hills Developments: 3Q21 – Sales supported by the North Coast

PHDC achieved impressive 3Q21 sales of EGP5.1 billion, up 75.6% y/y and 19.2% q/q. Ready-to-Move inventory stood at EGP3.4 billion at the end of 9M21. Revenue in 3Q21 reached EGP1.9 billion, up 22.2% y/y and down 7.3% q/q, bringing 9M21 revenue to EG...
Al Ahly Pharos Securities Brokerage Mayar
Mayar El Ashry @ Al Ahly Pharos Securities Brokerage 16 November 2021

SODIC: Underwhelming 3Q21, but great 10M21 sales

OCDI recorded 3Q21 sales of EGP1.6 billion, down 26.2% y/y and 14.7% q/q, which is attributed to the suspension of sales on the 500 feddan land plot (which houses VYE and Karmell) due to the location adjustment of the land plot. This brought 9M21 sal...
Al Ahly Pharos Securities Brokerage Mayar
Mayar El Ashry @ Al Ahly Pharos Securities Brokerage 15 November 2021

Orascom Development Egypt: 3Q21 – another fantastic quarter in a fantastic year

ORHD reported impressive 3Q21 results, with sales reaching EGP2.2 billion, up 50.3% y/y and 16.5% q/q, bringing 9M21 sales to EGP6.2 billion, up 43.4% y/y. Foreign tourists represented 40.0% of visitors to El Gouna in 3Q21. Real estate receivables in...
Al Ahly Pharos Securities Brokerage Mayar
Mayar El Ashry @ Al Ahly Pharos Securities Brokerage 15 November 2021

Talaat Moustafa Group Holding: 3Q21 – strong base effect at play

TMGH reported 3Q21 sales of EGP6.5 billion, down 15.0% y/y and 62.9% q/q, due to 3Q20 having included the EGP4.0 billion transaction and 2Q21 having witnessed the launch of Noor. This brought 9M21 sales to EGP27.5 billion, up 127.2% y/y, supported by...
Al Ahly Pharos Securities Brokerage Mayar
Mayar El Ashry @ Al Ahly Pharos Securities Brokerage 14 November 2021

MNHD: Results continue to suffer in shadow of land-sale-backed 2020

Sales in 9M21 dropped 39.6% y/y to EGP2.7 billion from EGP4.5 billion in 9M20 that had been supported by the EGP1.1 billion land sale. 9M21 revenue declined 21.5% y/y to EGP1.4 billion due to 9M20 revenue having included land sale proceeds. Deliverie...
Al Ahly Pharos Securities Brokerage Mayar
Mayar El Ashry @ Al Ahly Pharos Securities Brokerage 9 November 2021

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