Orascom Development Egypt (ODE) 22
• Group CEO: Omar El Hamamsy
Sector: Real Estate & Construction Market Value: $344 million Sales: $332 million Profits: $62 million Assets: $914 million ODE is the largest subsidiary of Orascom Development Holding. It develops fully-integrated destinations, including hotels, residential units, leisure facilities and supporting infrastructure. ODE owns a land bank of 50.25 million square meters and 24 hotels with a total of 4,932 rooms across four destinations: El Gouna, Taba Heights, Makadi Heights, and Byoum. It has also launched O West. Early in 2023, ODE signed a master agreement with Egyptian authorities for the remaining 17.4 million square meter land bank in El Gouna for $112 million.
Palm Hills Developments (PHD) 23
• Chairman and Group CEO: Yasseen Mansour Sector: Real Estate & Construction
Market Value: $198 million Sales: $440 million Profits: $42 million Assets: $1.6 billion PHD has a land bank of over 29 million square meters. It had delivered 13,564 units within its developments as of 2022. The company has projects under development across Egypt in West Cairo, East Cairo, North Coast, and Alexandria, with a total sales backlog of over $776 million. Founder, Group CEO and Chairman Yasseen Mansour has a net worth of $1.3 billion, according to Forbes World’s Billionaires 2023 ranking. Mansour-Maghraby Investment and Development Company is the major shareholder, with a 41.5% stake.
23
alBaraka Bank Egypt
• Vice Chairman and CEO: Hazem Hegazy Sector: Banking and financial services
Market Value: $196 million Sales: $285 million Profits: $57 million Assets: $2.8 billion The bank offers Shariah-compliant financial services across 33 branches and employs 1,161 people. In 2022, the bank’s net profit jumped to $57 million, an increase of 55.3% compared to 2021. By the end of 2022, the bank increased its capital to $164.5 million from $60 million in 2021. The Bahrain-based Al Baraka Banking Group is the major shareholder of alBaraka Bank Egypt, with a 73.7% stake.
Food and Beverages F O R B E S M I D D L E E A S T.C O M
Companies
Total market value
Total sales
Total profits
Total assets
2
$783 million
$615 million
$52 million
$393 million JUNE 2023
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EGYPT’S TOP 50 LISTED COMPANIES
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