Pre-Trading Thoughts Al Ahly Pharos podcast

2y ago 4:40

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Real estate developers are: 1) not permitted to launch the sale of units before obtaining the ministerial decision approving the masterplan, 2) required to open an independent bank account for the project/phase to be launched, 3) to submit a semi-annual financial report, approved by the developer’s auditor, outlining installments collected from buyers and expenses spent, 4) to keep a 5% reserve of total collections in the bank account to meet potential refunds. Regulation would be more conducive to trust between developer and customer, and might translate into higher sales. Valuations could be pressured, but could prompt developers to charge higher down payments or collect installments faster, thereby relieving some of that pressure.

The Administrative Capital Company for Urban Development is planning to launch the second phase of the New Administrative Capital under a public-private-partnership model.

Al Hokair family looks set to acquire a 4.99% stake in ValU, valuing the company at USD 247.4 mn. This takes HRHO's FV to EGP 19.72/share from our latest published 19.50/share.

After three MPs submitted separate briefing requests, the House Economics Committee is set to discuss importation challenges facing the automotive sector.

Damietta Port Authority signed an agreement with Eurogate, Conship and Hapag-Lloyd Consortium to manage and operate a second container terminal in Damietta Port, competing with Damietta Containers Handling, which is 20% owned by CSAG.

ETRS signed a logistics services contract for EGP26 million with West Bakr -Vestas wind farm and Kuehne+ Nagel Ltd to transport 70 105-thousand-ton towers.

EGAS signed an MoU with Chevron to explore ways to transport, import, liquefy, and re-export gas from the Eastern Mediterranean.

Abu Dhabi's Investment Authority, ADQ, and Kuwait Investment Authority signed an agreement with nine African peers, including Egypt, to promote investments in the continent.

Weekly Commodity Update | Last Price WoW Change, %

Brent, USD/bbl 114.1 -5.3%

Diesel-HSFO Spread, USD/ton 778.3 9.5%

Egypt Urea, USD/ton 720.0 0.0%

Polyethylene, USD/ton 1,400.0 0.0%

Polypropylene, USD/ton 1,185.0 0.4%

Steel/Iron Ore Spreads, USD/ton 430.4 -1.0%

Aluminum Cash Price, USD/ton 2,477.3 -4.8%

Egyptian Retail Cement, EGP/ton 1,273.0 4.8%

Steam Coal FOB, USD/ton 392.8 0.6%

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