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Update1:Real Estate Rally Continues: EMFD, ORHD, and PHDC Lead Sector Surge to New Highs

Updated: Dec 4, 2023


Update 1:


As of 4/12/2023 at 13:40 CLT, the real estate sector continues to lead in the market Turonvoer for the second consecutive week. Notably, Palm Hills Development (PHDC), Orascom Development Egypt (ORHD), and Emaar Misr for Development (EMFD) are experiencing notable increases in their stock prices.


Palm Hills Development (PHDC) is currently trading at EGP 3.13 per share as of 13:44 CLT, reaching a new 52-week high. The year-to-date performance for PHDC stands at an impressive +60.70%.


Orascom Development Egypt (ORHD) has achieved an All-Time high share price of EGP 13.85 during the second week.


Emaar Misr for Development (EMFD) has also set a new 52-week high price at EGP 4.80 per share, with the current trading value at EGP 4.50 per share as of 13:50 CLT. EMFD is now approaching its all-time high, standing just 19% away from its peak of EGP 5.13 per share, which was reached on April 1, 2018. The market activity for these companies reflects strong investor interest and positive momentum in the real estate sector.


Main Data:

In the ongoing surge of the Real Estate sector, ORHD, PHDC, and EMFD take the lead.


For the second consecutive day, the Real Estate sector continues its high volumes and turnover, with prominent contributions from EMFD, ORHD, and PHDC.


Emaar Misr For Development (EMFD) achieved a noteworthy milestone, reaching a new 52-week high of EGP 4.15 per share. This surge occurred on elevated trading volumes, representing approximately 80% of the average 5-day volume. EMFD is now just 19% away from its all-time high of EGP 5.13 per share, set on April 1, 2018, boasting a year-to-date (YTD) performance gain of +29.7%.


Orascom Development Egypt (ORHD) marked its second consecutive day of setting a new all-time high, reaching EGP 13.19 per share. This achievement propels its YTD performance to an impressive +87.90%.


Palm Hills Development (PHDC) also joined the momentum by hitting a new 52-week high at EGP 3.11 per share, contributing to a YTD performance gain of +56%. The Real Estate sector's remarkable run showcases the resilience and positive trajectory of these key players.


*Prices as of 28/11/2023 session 10:52 CLT


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