Good morning, and welcome to Telda Lens — your daily pulse on Egypt’s markets.

Today: Emaar Misr unveils an EGP 78 bn project; Madinet Masr reports sales of EGP 36.3 bn; and, on the macro level, Qatar’s Diar announces a USD 29.7 bn mega development in Egypt.

🔔 EGX30 ended +0.17% by market close at 39,132 points, the EGX70 fell 0.97% to 12,078 points, and the EGX100 also dropped 0.82% to reach 15,928 points.

💸 The number of transactions reached 148,051 spread across 1,508,718,194 stocks leading to a turnover of EGP 6.3 billion.

🏷️ International investors were the only net buyers.

📈 Top gainers for the market as a whole included Gogreen for Agricultural Investment (+11%), Macro Group Pharmaceuticals (+8.38%), and El Kahera El Watania Investment (+7.85%).

📉 Top losers for the market included East Delta Flour Mills (-8.41%), Gadwa For Industrial Development (-5.31%), and El-Nile Co. For Pharmaceuticals And Chemical Industries (-5.07%).

⬆️ Top gainers for EGX30 included TMG Holding (+5.7%), Palm Hills Developments (+1.8%), and ADIB (+1.1%).

⬇️ Top losers included Arabian Cement (-2.9%), Beltone Holding (-2.9%), and Abu Qir Fertilizers (-2.2%).

Other Important Stats: 

🧈 24K Gold reached EGP 6,120 per gram, up 0.04% day-on-day and up 1.78% month-on-month.

💲 The USD reached EGP 47.36 at the National Bank of Egypt.

💸 Emaar Misr (EMFD) and Saudi Arabia’s Dallah Albaraka Group are launching a new mixed-use project in West Cairo valued at around EGP 78 billion, expected to generate returns of approximately EGP 117 billion. Sources told Asharq Business that Dallah Albaraka will provide the land, while Emaar Misr will manage development and operations, receiving 67% of the revenues; the company’s share price has risen 32.94% since the start of 2025. (Read more in our Deeper Look section.)

🏗️ Madinet Masr for Housing and Development (MASR) reported new sales of EGP 36.3 billion in the first nine months of 2025. Deliveries of units climbed 112% year-on-year, and reservations exceeded EGP 2 billion during the period — figures the developer said signal strong demand after several project launches and new partnerships. The company’s shares have risen 12.6% since the start of the year.

💰 Pioneers Properties’ (PRDC) subsidiary Mashareq Real Estate Investment has lined up a syndicated facility worth EGP one billion, arranged by the National Bank of Egypt, to push forward the first stage of its New Cairo project, Zag East. Both the Industrial Development Bank and Abu Dhabi Islamic Bank chipped in three hundred million pounds apiece. The financing runs for eight years, granting a thirty-month drawdown period and another thirty-six months before repayments begin. PRDC’s stock has gained 33.6% since the start of 2025.

💵 CIB and the National Bank of Egypt have signed a financing agreement with Pure Dive — a joint venture between the Chemical Industries Holding Company, Misr Chemical Industries (MICH), and private-sector player Cadence Energy — to build the region’s first plant for chlorine tablets and granules, with total investments of around USD 39 million. The factory, to be set up within Misr Chemical Industries facilities, will produce 10,000 tons each of trichloroisocyanuric acid and cyanuric acid, plus 18,000 tons of anhydrous ammonium sulfate fertilizer, with China’s Capchem serving as general contractor and ECG as engineering consultant.

⬇️ Gogreen for Agricultural Investment (GGRN) saw its net profit drop 38.2% year-on-year in the first nine months of 2025, recording EGP 28.75 million compared to EGP 46.52 million in the same period last year. The company’s revenues also declined to EGP 62.26 million from EGP 71.9 million a year earlier.

📈 Egyptian Gulf Marseilia For Real Estate Investment (MAAL) returned to profitability in the first nine months of 2025, posting a net profit of EGP 72.02 million compared to a loss of EGP 21.75 million in the same period last year. The company’s consolidated revenues also surged to EGP 655.56 million from EGP 168.09 million a year earlier, reflecting strong operational recovery. The company’s shares have risen 15.3% since the start of the year.

November 6, 2025 (today):

North Cairo Mills (MILS) – dividend distribution date for EGP 3 per share. The record date was Sunday, November 3.

Middle Egypt Flour Mills (CEFM) – dividend distribution date for EGP 5 per share. The record date was Sunday, November 3.

Misr Chemical Industries (MICH) – dividend distribution date for EGP 2 per share. The record date was Sunday, November 3.

Alexandria Pharmaceuticals and Chemical Industries (AXPH) – dividend distribution date for EGP 62.95 per share. The record date was Sunday, November 3.

Mansourah Poultry (MPCO) - distribution date for 0.52 bonus shares per original share. The record date was yesterday.

Juhayna Food Industries (JUFO) - distribution date for 0.25 bonus shares per original share. The record date was yesterday.

Dice Sport and Casual Wear (DSCW) - distribution date for 0.5 bonus shares per original share. The record date was yesterday.

November 9, 2025:

East Delta Flour Mills (EDFM) - dividend distribution date for EGP 23 per share. The record date was Tuesday, November 4.

Alexandria Flour Mills (AFMC) - dividend record date for EGP 0.75 per share. The distribution date is Wednesday, November 12.

💰 Qatar’s Diar will invest USD 29.7 billion, the real estate arm of Qatar Investment Authority, in a massive luxury development on Egypt’s Mediterranean coast — a deal similar to the UAE’s Ras El Hekma project — a source told Reuters. The agreement with Egypt’s New Urban Communities Authority includes USD 3.5 billion in cash for the land and USD 26.2 billion as an in-kind investment to build the project. The source added that completing this agreement had been a key hurdle delaying Egypt’s access to IMF funds (as part of our USD 8 billion loan agreement with the fund), which were tied to securing new large Gulf investments.

👀 The Egyptian government is compiling a full inventory of unused public assets and idle factories as it prepares to expand its privatization program, a government source told EnterpriseAM. The list — which will include land, warehouses, and underperforming facilities — will be offered to investors under usufruct and profit-sharing arrangements, aiming to boost the performance of struggling state-owned firms.

Emaar Misr has signed an agreement with Saudi Arabia’s Dallah Albaraka Group to launch a large-scale mixed-use project in West Cairo. The partnership involves Dallah Albaraka’s subsidiaries Samla and Alam Al Roum for Urban Development, with total planned investments of around EGP 78 billion and projected returns estimated at roughly EGP 117 billion.

A new addition to Emaar’s growing portfolio:

The upcoming development will extend across 380 feddans in the Katameya area of New Cairo. The project is set to include residential, administrative, and commercial zones.

Sources familiar with the matter told Asharq Business late last month that Dallah Albaraka will provide the land for the project, while Emaar Misr will take charge of the development and operations, securing 67% of the project’s revenues.

Part of a wider expansion strategy:

This project comes as Emaar Misr continues to expand its footprint in Egypt. In September, the company said it is developing Marassi Red Sea, a huge EGP 900 billion integrated tourism complex in partnership with Saudi-owned Citystars Properties. The coastal destination will feature 12 luxury hotels, thousands of residential units, over 500 retail and dining outlets, a marina, private beaches, schools, hospitals.

Emaar and Citystars each hold a 50% stake in the venture, which is expected to generate around USD 200 million in annual revenues and create up to 170,000 jobs during construction.

Emaar’s mid-year earnings:

Remember, Emaar Misr reported a net profit of EGP 3.91 billion in 1H 2025, down from EGP 7.64 billion a year earlier. Still, revenues jumped to EGP 9.29 billion from EGP 5.6 billion in the same period of 2024.

Going forward:

Emaar Misr is one of Egypt’s largest real estate developers, with a portfolio that includes Marassi, Soul, Belle Vie, Cairo Gate, Uptown Cairo, Mivida, Mivida Gardens. Its total investments in Egypt have now reached about EGP 1.9 trillion, and the company is planning to double that figure over the coming years as part of its long-term growth strategy, Emaar founder Mohamed Alabbar said yesterday.

The company’s share value has risen 32.94% since the start of 2025. 

Stay curious, stay invested — we’ll see you tomorrow.

Your daily market lens, signing off.