Good morning, and welcome to Telda Lens — your daily pulse on Egypt’s markets.

Today: Palm Hills and the Egyptian Kuwaiti Company launch a massive West Cairo project as E-finance eyes a new acquisition, while B Investments moves forward with the Gourmet IPO and Madinet Masr and CIRA lock in new strategic partnerships.

🔔 EGX30 ended +0.65% by market close at a record high of 43,684 points, the EGX70 fell 1.36% to 12,707 points, and the EGX100 fell 1.45%  to reach 17,004 points

💸 The number of transactions reached 136,945 spread across 1,526,479,491 stocks leading to a turnover of EGP 5.75 billion.

🏷️ International investors were the only net buyers.

📈Top gainers across the broader market Northern Upper Egypt Development & Agricultural Production (+4.72%), CIB (+4.5%), and Prime Holding (+3.5%).

📉 Top losers: M.B Engineering (-8.10%), Saudi Egyptian Investment & Finance (-7.48%), Rowad Tourism (-6.65%.)

⬆️ Top gainers for EGX30 included CIB (+4.5%), GB Corp (+3.3%), and TMG Holding (+0.9%).

⬇️ Top losers included: Qalaa Holdings (-5.9%), E-finance (-5.0%), and Mopco (-4.5%)

Other Important Stats: 

🧈 24K Gold reached EGP 7,019  per gram, up 0.67% day-on-day and up 6.48% month-on-month.

💲 The USD reached EGP 47.1 at the National Bank of Egypt.

🏗️ Palm Hills Development (PHDC) is partnering with the Egyptian Kuwaiti Company to develop a 1.4 million square meter residential project in West Cairo, located next to the existing Palm Hills 6th of October site. (Read more in our Deeper Look section).

👀 E-finance (EFIH) has launched a bid to fully acquire a firm in the non-banking financial sector, having already secured a green light from the target’s major shareholders. The fintech company is currently seeking the Financial Regulatory Authority's clearance to move forward with the due diligence phase.

✅️ The board of B Investments (BINV) has formally approved the initial public offering of its prominent food retail subsidiary, Gourmet. This move follows recent filings with the Financial Regulatory Authority as the private equity firm prepares to list the high-end grocer on the Egyptian Exchange.

💸 Madinet Masr (MASR) has signed an EGP 400 million memorandum of understanding with Elsewedy Electric (SWDY)  to develop advanced utility networks for the "Elan" project within its Sarai development. The partnership aims to accelerate construction timelines, with infrastructure works scheduled for completion by the end of 2027.

📚 CIRA Education (CIRA) and Badr Universities have entered into a strategic partnership with Ontario Tech University to introduce internationally recognized master's degrees to the Egyptian market. This collaboration will debut at Badr Universities, offering specialized postgraduate engineering programs in fields such as mechatronics, software, automotive, and nuclear engineering

📝 The government is reportedly relaunching its privatization drive with a target of USD 6 billion in proceeds, according to a high-ranking official speaking to EnterpriseAM. The first wave could arrive as early as February, featuring a mix of stock market listings and stake sales from at least two companies, with market-ready military assets like Wataniya, Chill Out, and Safi expected to lead the initial phase.

💰Egypt is set to receive a EUR 1 billion infusion from the European Union this Thursday, marking the second installment of a larger EUR 5 billion support package, according to Planning Minister Rania Al Mashat. While 38 reform milestones have already been reached to trigger this payment, the government must still navigate another 100 structural measures to unlock the remaining EUR 3 billion, which is now expected to arrive in two tranches throughout 2026.

Palm Hills Development has teamed up with the Egyptian Kuwaiti Company to develop a 1.4 million square meter residential project in West Cairo, adjacent to its Palm Hills October development. 

The details:

The project is set to launch in the first half of 2026 and is expected to generate around EGP 177 billion in total sales, lifting Palm Hills’ total land bank to roughly 40.5 million square meters.

Remember, the company has been making moves:

Last month, Palm Hills announced it is  entering the UAE market with its first major investment: The Saadiyat Shores project in Abu Dhabi, which is expected to cost about USD 5.4 billion in construction costs. The company aims to generate over USD 7 billion in sales from the project, attracting buyers from Europe, the US, Egypt, and Asia, Chairman Yassin Mansour told Reuters.

Beyond Saadiyat, Palm Hills said it plans for additional projects in Abu Dhabi and Dubai, as well as potential developments in Saudi Arabia, targeting Riyadh and Jeddah. The company also plans to launch a new development in the New Administrative Capital of Egypt

And the expansions come after the company reported strong 9M results:

Palm Hills Developments’ earnings rose 50% year-on-year to EGP 3.5 billion in the first nine months of 2025, with revenues up 42% to EGP 25.4 billion on strong new sales. In 3Q 2025 alone, net income surged 93% YoY to EGP 1.1 billion, and revenues increased 42% year-on-year to EGP 10  billion. 

Stay curious, stay invested — we’ll see you tomorrow.

Your daily market lens, signing off.