Equity Analysis /
Egypt

Orascom Development Egypt: Orascom Development Egypt: 1Q18 – the star continues to shine

    Tellimer Research
    15 May 2018
    Published byTellimer Research
    We reiterate our Overweight recommendation of ORHD based on our FV of EGP13.00/share. Our recommendation is backed up by fundamentals, the most notable of which is the value of El Gouna’s residual land, and catalysts, including the continuing positive turnaround of tourism to Egypt, new launches in El Gouna, the launch of the West Cairo project,
    potential expansion on the North Coast, and the further reduction of debt.