Marseilia Real Estate Investment Starts Trading on EGX Today🏡

Local Pickup🌇

Marseilia Real Estate Investment Starts Trading on EGX Today🏡

Marseilia for Real Estate Investment (MAAL) will begin trading on the EGX today after the EGX had approved the transfer of its shares from the Nilex to the EGX one week ago.

More Details🧐 Marseilia’s paid capital amounts to EGP 100.8 million, distributed over 100.8 million shares at a par value of EGP 1/share. 

Notable projects by MAAL include Cascadia & Marseilia Beach 4 in the North Coast, Golden Yard in the New Administrative Capital, & Blue Bay-Asia in Ain El Sokhna.

Why is this Important🤔 Marseilia will now follow the EGX’s listing regulations rather than the Nilex.

It’s worth noting that MAAL had paid out bonus shares of 0.4 share/original share last week.

Orascom Development’s 2021 Real Estate Sales its Highest-Ever💸

Orascom Development (ORHD) has reported real estate sales of 9.2 billion in 2021, with EGP 3 billion coming in Q4-2021.

More Details🧐 ORHD attributed the jump in sales in Q4-2021 relative to other quarters to increased demands for its units in El Gouna, O West, & Makadi Heights. 
  • El Gouna sales recorded EGP 4 billion in 2021, a 75% year-over-year increase.
  • O West sales recorded EGP 4 billion in 2021, a 43% year-over-year increase.
  • Makadi Heights sales recorded EGP 1.2 billion in 2021, a 167% year-over-year increase.

Why is this Important🤔 The increased demand not only led to an increase in the number of units sold, but also in the average price per square meter.

The EGP 9.2 billion sales are a 49% year-over-year increase, while Q4-2021 sales rose by 61% compared to the same period the year before.

MOPCO Aims to Establish $260 Million Melamine Factory🧪

Misr Fertilizer Company MOPCO (MFPC) is looking to establish a $260 million melamine factory in the Damietta Free Zone.

What is Melamine🧪 Melamine is a chemical compound used by manufacturers to create several products, most notably plastic dishware.

More Details🧐 The new plant will produce about 60,000 tonnes of melamine annually. 

Why is this Important🤔 MFPC is one of the biggest producers of urea (a key ingredient for melamine) in Egypt. The company produces about 2 million tonnes of urea annually, & exports it to countries in Europe, Latin America, Asia & Africa.

Ibn Sina to Build a Solar Power Plant for its Headquarters🌞

Ibn Sina Pharma (ISPH) has signed a contract to build a solar power plant to supply electricity to one of its headquarters.

More Details🧐 The plant will have a maximum power of 379.5 kilowatts, which is sufficient to feed the administrative offices & warehouse. ISPH has signed with the Industrial Modernization Centre (ICM) to construct the plant.

Why is this Important🤔 The plant will reduce carbon emissions by 281 tonnes annually. ISPH intends on issuing its first sustainable development report, which will explain the company’s efforts towards environmental, social, & governance (ESG) compliance.

What else is Clapping👏

  • EGX Approves the Delisting of National Bank of Kuwait Egypt’s (NBKE) Shares

  • Mena Touristic & Real Estate Investment (MENA) Newly Issued Shares to List on January 24th, 2022

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