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Orascom Construction plans to reduce its projects in Egypt to a third by 2026, focusing on international expansion, particularly in the UAE and Saudi Arabia. CEO Osama Bishai emphasized the company's preference for foreign-funded projects and noted improvements in dues collection from government entities, despite ongoing local challenges. The firm is already engaged in significant projects abroad, including power plant expansions in Saudi Arabia and seawater treatment facilities in the UAE.
At Investopia 2025, Naguib Sawiris revealed that 1,500 Egyptian companies relocated to the UAE in 2024, many seeking to list on Dubai and Abu Dhabi stock exchanges. He proposed merging the two exchanges to boost listings and liquidity, while expressing concerns over Egypt's mega projects and unstable dollar situation. Sawiris emphasized the need for hard work and perseverance among the youth to achieve success.
Orascom Development Holding's withdrawal from the stock exchange has left small shareholders dismayed, as the buyback offer of 5.60 francs per share starkly contrasts with the initial trading price of 152 francs in 2008. Despite owning valuable land, the company's declining operational performance and market interest have led to a significant drop in valuation. Naguib Sawiris, the chairman, insists that the delisting will allow for a more strategic focus without the pressure of quarterly reporting, while some experts argue the fair value of the shares is closer to 30 francs.
Naguib Sawiris
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Orascom Construction to Cut Egypt Projects and Focus on International Expansion
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10:41 27.03.2025
naguib sawiris highlights egyptian firms moving to uae and stock exchange merger
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Orascom Development Holding withdraws from stock exchange impacting small shareholders
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Orascom Development Holding AG
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05:54 13.01.2025
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