Update 2: Noticeable surges in the real estate sector with TMGH, EMFD, and PHDC exhibiting significant gains; revisiting our market update, TMGH, PHDC, and EMFD continue to demonstrate substantial surges. The below table shows how prices increased since our first update
Cairo, February 25, 2024 - The real estate sector is experiencing a significant surge in today's market, emerging as the top-performing sector. Despite the early downward trend, the EGX30 index has rebounded and stabilized, showing a modest decline of -4.30% as of 12:02 CLT.
Talaat Moustafa Group Holding (TMGH) has taken the lead, making a groundbreaking announcement earlier today regarding its collaboration with ADQ and Modon Properties to develop the Ras El Hikma Project. This news has generated a wave of positive sentiment and sparked considerable investor interest.
The positive momentum is not limited to TMGH alone. Other real estate stocks also witnessed substantial gains, accompanied by high trading volumes during the mid-session. Emaar, a prominent player in the market, is among the notable performers in this sector.
The below table presents the top sector movers
Prices as of 25/2/2024 12:00 CLT
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