Emirati Capital Goods Undervalued over 20% based on DCF

NMDC Group PJSC

Market Cap: د.إ19.7b

Together with subsidiaries, executes engineering, procurement, and construction contracts, and dredging contracts and associated land reclamation works in the territorial waters of United Arab Emirates, Saudi Arabia, Taiwan, Egypt, Bahrain, India, and internationally.

ALEC Holdings PJSC

Market Cap: د.إ7.4b

Operates as a construction company in the United Arab Emirates.

Orascom Construction

Market Cap: د.إ5.4b

Operates as an engineering and construction contractor for infrastructure, complex industrial, and high-end commercial projects in the United States, the Middle East, Africa, and Central Asia.