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Orascom Construction secures green light for a $2.6 billion Qurayyah IPP expansion in Saudi Arabia, reinforcing its regional energy footprint with a 3GW boost.
His vision has transformed Morocco’s insurance sector and shaped Africa’s financial and industrial landscape.
Madinet Masr Housing and Development (MNHD has announced plans to launch commercial projects, marking a significant shift in its business strategy.
The brothers’ combined stake in the company is now valued at nearly $1.8 billion, a testament to their deep influence in the industry.
The performance was driven by sustained market demand, strategic expansions, and a solid uptick in net operating revenues.
Egyptian billionaire Yasseen Mansour’s vast empire spans real estate, automotive, retail, and finance, solidifying his influence in Egypt’s economic transformation.
Real estate tycoons like Naguib Sawiris and Hisham Talaat Moustafa are shaping Egypt’s skyline with multi-billion-dollar luxury and mixed-use developments.
Edita Food Industries plans a $2.76 million capital boost via retained earnings, doubling issued capital to $5.53 million as part of its regional expansion strategy.
The recovery follows a sharp decline between Jan. 1 and Feb. 7, when the market value of his stake dropped by EGP 2.84 billion ($56.48 million).
With a strong financial foundation, Elsewedy Electric is positioning itself for further expansion, reinforcing its role as a key player in the global energy and infrastructure market.
This follows a sharp drop between Jan. 27 and Feb. 19, when her stake fell by $64.05 million, from $242.51 million to $178.46 million.
The project includes 4,600 homes for lower-middle to middle-income buyers and up to 1,000 for lower-income families.
Orascom Development Egypt’s revenue surged 41.91% to $430 million in 2024, driven by record real estate sales and strong hospitality growth despite FX losses.
This represents a sharp reversal from the recent highs recorded in February, when the market value of his stake had surged to nearly $1 billion.
While revenue surged, higher operational costs and currency devaluation cut into profits, pushing earnings below the previous year’s $30 million benchmark.
The decline comes after a strong run earlier this year. Between Feb. 11 and 19, the value of Lazraq’s holding jumped by $89.7 million.
