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Wednesday, 16 January 2019

Expect pick-up in real estate stocks, says EFG Hermes

So, which stocks should you pick? Look at real estate stocks this year, says EFG Hermes: 2019 will be a better year for real estate stocks after last year’s squeeze, EFG Hermes Head of MENA Strategy Mohamed Al Hajj told Bloomberg TV (watch, runtime: 2:21). “If we see continued falling inflation and interest rates, we should see some pick up in the sector, which was the worst-performing sector in Egypt last year,” he said.

Real estate, consumer and education stocks leading the way in 2019: Consumer and education stocks, along with real estate, are the current stock market picks for EFG Hermes, as the banking sector takes a backseat. “Banks continue to post decent earnings growth but banks wouldn’t be our top sector in Egypt this year,” Al Hajj said. “Consumers, real estate and education are probably the three sectors we’ll be focusing on.”

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of HSBC Egypt (tax ID: 204-901-715), the leading corporate and retail lender in Egypt; EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Mashreq (tax ID: 204-898-862), the MENA region’s leading homegrown personal and digital bank; Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt; Hassan Allam Properties (tax ID:  553-096-567), one of Egypt’s most prominent and leading builders; and Saleh, Barsoum & Abdel Aziz (tax ID: 220-002-827), the leading audit, tax and accounting firm in Egypt.