Pre-Trading Thoughts

PHDC (FV: EGP5.59, OW) is a top pick especially in light of potential EGP depreciation and expected inflation given the usual rush to real estate as a store of value. We select PHDC given a number of factors: Solid sales in 2023 and 2024 should be further supported by PHDC’s upcoming launch of its new project, whose proximity to Palm Hills October is expected to dictate a premium in pricing.Large residual land bank and a solid development track record.Stock offers one of the widest valuation ...