​We raise our valuation for PHDC by 13% over our previous update, to stand at EGP 3.64/share vs. EGP 3.23/share issued 2 weeks ago (November 8th). The upgrade comes as PHDC continues to show positive surprises, launching Palm Hills New Cairo project in 4Q2016 – as previously indicated by the management versus our recent assumption of the launch to take place in 2H2017. PHDC was able to beat our conservative assumptions, and register a 100% standalone units` sellout during such harsh and critical macro conditions.
Since its founding in 1992 as a privatization consulting office to the government of Egypt, Prime has successfully reinvented itself as a regional investment bank with a presence in major Arab markets. We provide innovative and outstanding financial services to corporations, institutions, governments, and individuals, using the breadth of our expertise to enable them to reach their objectives.
Over the years, we have refocused our business and our people while extending our geographical reach and strengthening our technological capabilities.
Today, Prime is:
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