Report
EUR 9.28 For Business Accounts Only

Q3: Sales and handovers regain strength after Q2 seasonality.


  • ​​Net contracted sales reached EGP 2bn in Q3 16A alone, fuelled by solid uptake on secondary homes in the North Coast during the summer season. Cancellations remained low at 8% of sales (EGP 163m, -11% y/y, -71% q/q)
  • Revenues up 34% y/y driven by accelerated construction spend, and 15-20% y/y pricing growth across developments 
  • Improved handover mix (delivery of high-margin yielding units in the North Coast) lifts margins by 500bps y/y

Underlying
Palm Hills Development Company

Provider
Arqaam Capital
Arqaam Capital

Established in 2007, Arqaam Capital is a specialist emerging markets investment bank, bringing regional and international product offerings to the emerging markets. Arqaam Capital combines international best practice with expertise in the markets in which we operate. Our primary role is to provide financial intermediation and create investment opportunities for frontier and emerging markets investors looking to invest in their own markets and abroad, as well as international investors seeking opportunities in target frontier and emerging markets. Arqaam Capital is headquartered in the Dubai International Financial Centre (DIFC), with additional offices in Libya, Lebanon, Egypt, and South Africa. 

Arqaam Capital's research platform provides the largest coverage footprint of MENA equities and one of the largest on the African continent with a total of 300 stocks under coverage. Arqaam Capital is ranked as one of the leading research providers in the region - a reflection of its broad coverage universe, its in-depth and high quality research, as well the compelling investment ideas that the team generates. The analysts closely analyze their sectors and issue in-depth company and sector research while the strategy team connects the micro with the macro, focusing on index analysis, macroeconomics and strategy research. 

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