Today: We have the details on a megaproject by Talaat Moustafa Group that is expected to generate EGP 1.7 trillion in sales + news that Edita secured a huge loan to fund its expansion.

🔔 EGX30 ended +1.8% by market close at 52,372 points, the EGX70 rose 0.3% to 13,426 points, and the EGX100 rose 0.4% to reach 18,827 points.

💸 The number of transactions reached 226,476 spread across 2,752,553,892 stocks leading to a turnover of EGP 10.059 billion.

🏷️ International investors were the only net sellers.

📈 Top gainers for the market as a whole included Suez Canal Company For Technology Settling (+11.9%), O B Financial Holding (+8.2%), and TMG Holding (+7.9%).

📉 Top losers for the market included Egyptian Iron & Steel (-4.2%), Gourmet Egypt (-3.6%), and Suez Canal Bank (-3.5%).

⬆️ Top gainers for EGX30 included TMG Holding (+7.9%), Palm Hills Developments (+3.9%), and Edita (+3.5%).

⬇️ Top losers included Orascom Investment Holding (-2.5%), Egypt Aluminum (-2.3%), and Arabian Cement (-1.6%).

Other Important Stats: 

🧈 24K Gold reached EGP 7,980 per gram, down 1.0% day-on-day and down 1.0% month-on-month.

💲 The USD reached EGP 51.69 at the National Bank of Egypt.

Egypt’s largest listed real estate developer Talaat Moustafa Group (TMGH) has announced plans to develop “The Spine,” a massive mixed-use city in New Cairo’s Madinaty with total investments of around EGP 1.4 trillion. According to a company press release, the project is expected to generate about EGP 1.7 trillion in sales over its lifecycle, positioning it among the largest developments in the group’s history.

A cognitive city at scale:

The project is being designed as a “Cognitive City,” built around an integrated artificial intelligence and smart management system. It will function as a large-scale urban hub combining residential, commercial, financial, and entertainment spaces, with capacity to attract tens of millions of visitors annually. A core infrastructure component is a fully integrated underground logistics network, described as the first of its kind, intended to improve mobility, efficiency, and sustainability across the development.

Special zone framework and incentives:

The Spine will be established under a Special Investment Zone and free economic zone framework, giving it a distinct regulatory setup that includes expedited administrative procedures, customs facilitation, and additional investment incentives.

Economic impact expectations:

In terms of economic impact, the project is expected to contribute around 1% of Egypt’s GDP, create approximately 55,000 direct jobs and more than 100,000 indirect jobs, and generate about EGP 818 billion in tax revenues for the state over time.

The first phase of the project will be ready in four years.

Market reaction:

The company, which holds 10.4% of the EGX30 weight, saw its share value jump as much as 12.7% in early trading yesterday following the news of the mega project, before closing the day with a total gain of 7.9%. This brings its gains since the start of 2026 to 16.7%, and its gains over the past 12 months to over 92%

Strong financial momentum:

This major announcement lands amid a strong financial year for the company. TMGH reported a 43% year-on-year increase in net profit for 2025, reaching EGP 18.2 billion.

Revenues rose 46% year-on-year to EGP 62.49 billion, while real estate sales climbed to EGP 382 billion, reflecting sustained demand across its portfolio.

Regional and domestic expansion push:

Beyond Egypt, TMGH is accelerating its regional expansion. In Oman, the group is committing more than USD 5 billion to two flagship developments — Jood and Yamal — spanning over 4.9 million square meters and targeting around 15,000 homes under Oman’s Vision 2040 framework.

Domestically, it is also developing a USD 788 million integrated tourism project behind the Grand Egyptian Museum, featuring a five-star hotel and mixed-use components expected to generate recurring income alongside property sales.

Edita Food Industries (EFID) has secured a EGP 600 million medium-term loan to ramp up production capacity, according to a disclosure to the EGX. The seven-year facility will fund new production lines as the company scales output.

Market reaction:

EFID shares rose 3.5% by the close of trading yesterday following the announcement. The stock is now up 5.6% since the start of the year and has gained 113.6% over the past 12 months.

Expansion-driven funding strategy:

The loan comes as part of Edita’s broader capacity expansion strategy. Earlier in October 2025, the company signed an agreement to acquire four production lines for EGP 320 million, a move expected to lift total production capacity by around 15% across its core segments.

The company also completed a capital increase for its Iraqi subsidiary and expanded the reach of its HoHos, Twinkies, and Tiger Tail brands to more than 45 additional markets across Africa, further extending its regional footprint.

Strong 2025 performance:

The financing follows a strong operational year. Edita reported net profit of EGP 2.44 billion in 2025, up 72.6% year-on-year, driven by improved operating leverage, disciplined pricing, and a shift toward higher-margin products, according to management.

Revenue for FY 2025 rose 29.5% year-on-year to EGP 20.92 billion.

Outlook:

Management recently signaled a constructive outlook ahead, citing improving consumption trends and continued focus on operational efficiency, including initiatives such as the electrification of its distribution fleet.

April 22:

Credit Agricole - distribution date for EGP 3.32 per share. The record date was April 19.

Abu Qir Fertilizers - distribution date for EGP 1 per share. The record date was April 19.

Alexandria Mineral Oils Co - distribution date for EGP 0.20 per share. The record date was April 19.

Odin Investments - distribution date for EGP 0.075 per share. The record date was April 19.

Misr Cement - record date for EGP 5 per share. The distribution date is April 27.