Orascom Construction expected to record high profits in 2025-2029
An increase in public and private project investment in Egypt will give a strong push to Orascom Construction, which is also targeting projects in the six-nation Gulf Cooperation Council (GCC), HC Securities and Investment said.
In a report released by HC's analyst Nisreen Mamdouh, the company said:'We expect construction spending in Egypt to be strong, especially on infrastructure and projects which have nearly completed, mainly transport, water and power.'
The report added:'Our outlook for private local and foreign investment in Egypt remains positive, especially in mega projects in renewable energy and industry.'
The report projected an 11 percent annual growth in Orascom profits during 2025-2025 and that projects executed by the Company would reach nearly $8 billion during that period, with an average annual value of new projects of around $4.16 billion.
'We expect an acceleration in project execution, which will boost its total revenues by around 5.4 percent annually during that period,' the report said.
On Tuesday, Egypt's parliament endorsed an investment plan during the 2025-2026 fiscal year, which starts on 1 July and targets public investments of around 1.16 trillion Egyptian pounds ($2.3 billion), nearly 37 percent of the total targeted investments.
(Writing by Nadim Kawach; Editing by Anoop Menon)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Arabian Business
4 hours ago
- Arabian Business
New UAE school holidays; GCC visa rules; Dubai property boom; Etihad Rail real estate forecast; Abu Dhabi road tolls – 10 things you missed this week
A longer winter break for UAE students, new visa-on-arrival rules in Kuwait, and record-breaking Dubai property sales made headlines in the Middle East this week. From landmark hotel launches to transformative transport projects there were also major changes in education, travel, real estate, and infrastructure across the UAE and GCC Catch up on the biggest news stories this week, as selected by Arabian Business editors. UAE school calendar for 2025-2026: Longer winter break and new mid-term holidays revealed The UAE has announced the academic calendar for public and private sector schools in the 2025-2026 academic year, introducing unified term dates, longer breaks, and new mid-term holidays. The UAE Ministry of Education (MoE) unveiled the new school calendar, which was approved by the Education, Human Development and Community Development Council. The updated schedule will take effect from August 25, 2025, aligning with the country's 'Year of Community' goals to strengthen family cohesion and create a balanced learning environment. See key dates for UAE school year 2025-2026 here. Kuwait announces new visa for expats in UAE, Saudi Arabia, Qatar, Bahrain and Oman Kuwait has announced new visa on arrival rules for expat residents living in the UAE, Saudi Arabia, Qatar, Bahrain and Oman. The new visa was announced by First Deputy Prime Minister and Minister of Interior Sheikh Fahad Al Yousef Al Sabah. The tourist visit visa is offered to residents of GCC countries and is designed to boost tourism from neighbouring countries. Where Dubai rents rose and fell in first half of 2025 Dubai's rental market delivered mixed performance during the first half of 2025, with luxury waterfront communities posting steep increases whilst budget-friendly neighbourhoods experienced significant declines, according to industry experts and market data. The biggest winners were prime areas like Business Bay and Dubai Marina, where rental rates surged driven by young professionals seeking proximity to Dubai's financial districts. Meanwhile, areas like International City and Discovery Gardens saw rents tumble as regulatory crackdowns and increased competition took their toll. 'Business Bay saw rental rates increase in H1, driven by high demand from young professionals and its proximity to Downtown Dubai and DIFC,' said Ronan Arthur, Director and Head of Residential Valuation at Cavendish Maxwell. UAE real estate: Etihad Rail to boost property market and create new trade and investment corridors Etihad Rail will transform real estate, investment and trade across the UAE, according to a property CEO in the country. A UAE property expert says the benefits delivered by Etihad Rail will extend far beyond real estate, creating new corridors for living, trade, and investment across the Emirates. Firas Al Msaddi, CEO of fäm Properties, believes the Etihad Rail network will transform the UAE's economic landscape by boosting connectivity, reducing travel times, and driving genuine demand in emerging markets. UAE announces major new passport rule UAE citizens will now be able to renew their passports up to one year before the expiry date, following a new decision by the Federal Authority for Identity, Citizenship, Customs and Ports Security (ICP). Previously, the renewal period was limited to six months before expiry. The updated rule — announced by ICP Chairman Ali Mohammed Al Shamsi — comes into effect Monday, August 18, 2025, and will be available via the Authority's smart services platform. Al Shamsi said the move will improve citizens' quality of life by allowing them to plan international travel further in advance, complete official transactions without delays, and increase the use of secure digital documents. Dubai Smart Rental Index bears fruit as landlords recalibrate pricing strategies Tenants are successfully using Dubai's Smart Rental Index to challenge unjustified rent hikes, leading to fairer rental agreements and reduced conflicts with landlords, as the regulatory tool delivers on its promise to moderate extreme rental increases seven months after its introduction. The Index, launched by the Dubai Land Department (DLD) in January 2025, has shifted bargaining power towards tenants and created what brokers describe as a more balanced rental market, with data from the first half of 2025 revealing divergent trends across different price segments and neighbourhoods. Landlords are recalibrating their pricing strategies in response to the artificial intelligence-powered tool, which uses multiple data points including rental contract values, area averages, and building classifications to determine fair rental adjustments whilst requiring landlords to provide 90 days' notice for increases. Dubai property sales hit $14bn in July as off-plan demand and rents surge, top developers revealed Dubai's residential real estate market continued its upward trajectory in July 2025, with Betterhomes reporting strong growth in both sales and leasing, driven by robust off-plan demand and an influx of new tenants. Drawing on data from Property Monitor and its own transactions, the firm highlighted significant month-on-month gains in volumes, values, and rental activity. Average price per square foot: AED1,893 ($516), up 3.3 per cent from June Total transactions: 18,816, up 20.5 per cent month-on-month Total sales value: AED51.3bn ($13.96bn), a 10.6 per cent increase Off-plan sales: 65 per cent of transactions, up from 62 per cent in June Mandarin Oriental to open Dubai hotel and branded residences in Wasl Tower by October 2025 Mandarin Oriental is expanding its footprint in Dubai with the launch of its second property, Mandarin Oriental Downtown, Dubai, set to open in October 2025. Located within Wasl Tower, a striking new addition to the Sheikh Zayed Road skyline, the hotel will feature 259 rooms and suites and 224 private residences. A rooftop helipad will provide seamless VIP arrivals. The tower itself is set to become a design landmark, boasting the region's tallest ceramic façade and a distinctive twisting form. Dubai real estate insights 2025: What are GCC property investors prioritising in H2? Dubai real estate investors are looking for off-plan properties, high rental yields, and long-term lifestyle investments, according to analysis by brokerage and development firm Asico. Asico has identified key trends shaping GCC buyer preferences for the second half of 2025 based on detailed market analysis and direct client feedback. Wail Abualhamail, Director of Real Estate at Asico, said: 'We've seen a significant increase in enquiries from GCC clients, especially those seeking a blend of capital appreciation and lifestyle value. Our clients are not just looking for property, they're making long-term decisions tied to family life, income generation, and future stability in the UAE.' Abu Dhabi to scrap road toll caps from September 1 under new rules Abu Dhabi's Integrated Transport Centre has announced major changes to the emirate's Road Toll Executive Regulations (DARB), aimed at improving traffic flow and easing congestion on main roads during peak hours. Effective Monday, September 1, 2025, the evening toll period will be brought forward to run from 3pm to 7pm, while the morning period remains unchanged at 7am to 9am, Monday to Saturday. Tolls will continue to be free on Sundays and public holidays.
The National
8 hours ago
- The National
Quiz of the week: August 15, 2025
Vanuatu: $130,000 Why on earth pick Vanuatu? Easy. The South Pacific country has no income tax, wealth tax, capital gains or inheritance tax. And in 2015, when it was hit by Cyclone Pam, it signed an agreement with the EU that gave it some serious passport power. Cost: A minimum investment of $130,000 for a family of up to four, plus $25,000 in fees. Criteria: Applicants must have a minimum net worth of $250,000. The process take six to eight weeks, after which the investor must travel to Vanuatu or Hong Kong to take the oath of allegiance. Citizenship and passport are normally provided on the same day. Benefits: No tax, no restrictions on dual citizenship, no requirement to visit or reside to retain a passport. Visa-free access to 129 countries.
Zawya
13 hours ago
- Zawya
Digital Connect Infrastructure & Telecom (DCIT) Chairman Abiola Lukman Lawal becomes Board Member of African Energy Chamber
The African Energy Chamber (AEC) ( the voice of the African energy sector, is proud to announce that Abiola Lukman Lawal, Chairman, Digital Connect Infrastructure&Telecom (DCIT), has been appointed as the newest Board Member of the Chamber. A seasoned executive with over three decades of experience in the oil and gas, infrastructure, telecoms and aviation sectors, Lawal's appointment reaffirms the Chamber's commitment to uniting visionary leaders to drive Africa's energy and infrastructure transformation. Lawal's appointment to the AEC Board follows a major milestone for DCIT, which recently partnered with U.S.-based Vanu Inc. to launch solar-powered mobile network sites in underserved Nigerian communities. This collaboration leverages Vanu's low-power, off-grid systems and DCIT's infrastructure capabilities to deploy scalable, renewable energy-driven connectivity solutions. With proof-of-concept sites now live, plans are underway for expansion across Nigeria and into other African markets – signaling a major leap in energy-tech convergence on the continent. Prior to his leadership at DCIT, Lawal served as Managing Director and CEO of Eterna PLC, where he spearheaded one of Nigeria's most significant downstream energy turnarounds. Under his leadership, Eterna joined a consortium that delivered Nigeria's largest airside aviation fuel depot – the Joint User Hydrant Installation 2 – at Lagos' Murtala Muhammed International Airport. The 15-million-liter capacity facility now stands as a key asset in West Africa's aviation infrastructure. Further accomplishments under his tenure include restoring Eterna to profitability in FY 2024 after a N12 billion loss in 2023; projecting 27% revenue growth; achieving a 166% increase in operating profit in H1 2024; and driving a 117% year-to-date rise in share price – placing Eterna among the Nigerian Exchange's top-performing stocks. Lawal also championed significant investments in LPG and CNG, enabling long-term resilience and diversification in volatile market conditions. Recognized as one of BusinessDay's Top 25 CEOs in Nigeria for 2024, Lawal's strategic leadership continues to bridge traditional and emerging energy sectors. His prior roles include Deputy Managing Director and CFO at Eroton Exploration&Production, Executive Director at Oando Gas&Power and Group Chief Strategy Officer at Oando Plc – where he played a pivotal role in the company's downstream-to-upstream expansion strategy. 'The African Energy Industry is honored to welcome Abiola Lukman Lawal to our Board of Directors. He knows how to turnaround companies with his vary data driven and pragmatic leadership approach. His ability to connect infrastructure development, energy innovation and commercial strategy across both the public and private sectors makes him an invaluable addition to our leadership. Lawal's appointment comes at a critical time as we accelerate investment, technology deployment and inclusive growth across Africa's energy value chain,' states NJ Ayuk, Executive Chairman, AEC. As a Board Member, Lawal will support the Chamber's mission to foster a results-oriented business environment and promote private sector-led energy development across Africa. His leadership will be instrumental in driving cross-border collaboration, advancing infrastructure-led growth and helping to make energy poverty history across the continent. Distributed by APO Group on behalf of African Energy Chamber.
