Pre-Trading Thoughts

El Gouna Land Sale Unlocks Massive Value and Reconfirms ORHD as Our Sector Top Pick ORHD sold a 145k sqm land plot at the backend of El Gouna for EGP1.5 billion, implying a price of USD225/sqm. This is highly positive from both a valuation perspective and an earnings perspective. If we apply the USD225/sqm price to both back and midway land in our valuation, our FV would accordingly increase from EGP26.26/share to EGP32.69/share. Egypt welcomed a record 7.1 mn tourists in 1H 2024, ever...