Buy Or Sell Opportunity • Jun 02
Now 28% overvalued after recent price rise Over the last 90 days, the stock has risen 64% to ج.م14.72. The fair value is estimated to be ج.م11.51, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 7.4% over the last 3 years. Earnings per share has grown by 41%. Board Change • May 21
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 9 experienced directors. No highly experienced directors. No independent directors (9 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Announcement • Mar 13
United Co. for Housing & Development - S.A.E., Annual General Meeting, Apr 06, 2026 United Co. for Housing & Development - S.A.E., Annual General Meeting, Apr 06, 2026, at 15:00 Egypt Standard Time. Location: alexandarie Egypt Board Change • May 14
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 9 experienced directors. No highly experienced directors. No independent directors (9 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Announcement • Mar 07
United Co. for Housing & Development - S.A.E., Annual General Meeting, Mar 29, 2025 United Co. for Housing & Development - S.A.E., Annual General Meeting, Mar 29, 2025, at 09:30 Egypt Standard Time. Location: alexandarie Egypt Reported Earnings • Aug 20
Second quarter 2024 earnings released: EPS: ج.م0.17 (vs ج.م0.11 in 2Q 2023) Second quarter 2024 results: EPS: ج.م0.17 (up from ج.م0.11 in 2Q 2023). Revenue: ج.م105.6m (up 52% from 2Q 2023). Net income: ج.م39.2m (up 43% from 2Q 2023). Profit margin: 37% (down from 40% in 2Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Jun 13
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ج.م5.71, the stock trades at a trailing P/E ratio of 11.8x. Average trailing P/E is 12x in the Real Estate industry in Egypt. Total returns to shareholders of 34% over the past three years. Reported Earnings • Jun 05
First quarter 2024 earnings released: EPS: ج.م0.05 (vs ج.م0.02 in 1Q 2023) First quarter 2024 results: EPS: ج.م0.05 (up from ج.م0.02 in 1Q 2023). Revenue: ج.م139.0m (up 255% from 1Q 2023). Net income: ج.م12.3m (up 110% from 1Q 2023). Profit margin: 8.9% (down from 15% in 1Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 8% per year whereas the company’s share price has increased by 4% per year. Buy Or Sell Opportunity • May 23
Now 21% overvalued Over the last 90 days, the stock has fallen 32% to ج.م5.26. The fair value is estimated to be ج.م4.35, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 28% over the last 3 years, while earnings per share has been flat. Buy Or Sell Opportunity • Apr 06
Now 23% overvalued Over the last 90 days, the stock has fallen 7.7% to ج.م5.40. The fair value is estimated to be ج.م4.39, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 28% over the last 3 years, while earnings per share has been flat. Buy Or Sell Opportunity • Mar 21
Now 23% overvalued Over the last 90 days, the stock has fallen 4.4% to ج.م5.41. The fair value is estimated to be ج.م4.39, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 28% over the last 3 years, while earnings per share has been flat. Valuation Update With 7 Day Price Move • Mar 11
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ج.م6.03, the stock trades at a trailing P/E ratio of 13.9x. Average trailing P/E is 22x in the Real Estate industry in Egypt. Total returns to shareholders of 41% over the past three years. Reported Earnings • Mar 06
Full year 2023 earnings released: EPS: ج.م0.44 (vs ج.م0.35 in FY 2022) Full year 2023 results: EPS: ج.م0.44 (up from ج.م0.35 in FY 2022). Revenue: ج.م401.9m (up 52% from FY 2022). Net income: ج.م111.0m (up 13% from FY 2022). Profit margin: 28% (down from 37% in FY 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has increased by 16% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Jan 30
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to ج.م7.44, the stock trades at a trailing P/E ratio of 17.8x. Average trailing P/E is 22x in the Real Estate industry in Egypt. Total returns to shareholders of 41% over the past three years. Valuation Update With 7 Day Price Move • Nov 21
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ج.م6.30, the stock trades at a trailing P/E ratio of 21.7x. Average trailing P/E is 20x in the Real Estate industry in Egypt. Total returns to shareholders of 48% over the past three years. Valuation Update With 7 Day Price Move • Oct 29
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ج.م5.00, the stock trades at a trailing P/E ratio of 17.2x. Average trailing P/E is 16x in the Real Estate industry in Egypt. Total returns to shareholders of 32% over the past three years. Reported Earnings • Aug 20
Second quarter 2023 earnings released: EPS: ج.م0.11 (vs ج.م0.12 in 2Q 2022) Second quarter 2023 results: EPS: ج.م0.11 (down from ج.م0.12 in 2Q 2022). Revenue: ج.م69.5m (up 43% from 2Q 2022). Net income: ج.م27.5m (down 11% from 2Q 2022). Profit margin: 40% (down from 64% in 2Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Mar 15
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to ج.م3.63, the stock trades at a trailing P/E ratio of 9.9x. Average trailing P/E is 11x in the Real Estate industry in Egypt. Total returns to shareholders of 65% over the past three years. Reported Earnings • Mar 05
Full year 2022 earnings released: EPS: ج.م0.35 (vs ج.م0.30 in FY 2021) Full year 2022 results: EPS: ج.م0.35 (up from ج.م0.30 in FY 2021). Revenue: ج.م264.2m (up 98% from FY 2021). Net income: ج.م98.2m (up 21% from FY 2021). Profit margin: 37% (down from 61% in FY 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Jan 23
Investor sentiment improved over the past week After last week's 19% share price gain to ج.م4.72, the stock trades at a trailing P/E ratio of 17.3x. Average trailing P/E is 15x in the Real Estate industry in Egypt. Total returns to shareholders of 51% over the past three years. Valuation Update With 7 Day Price Move • Jan 03
Investor sentiment improved over the past week After last week's 19% share price gain to ج.م4.35, the stock trades at a trailing P/E ratio of 16x. Average trailing P/E is 15x in the Real Estate industry in Egypt. Total returns to shareholders of 54% over the past three years. Board Change • Nov 16
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 9 experienced directors. No highly experienced directors. No independent directors (9 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Reported Earnings • Jun 06
First quarter 2022 earnings released: EPS: ج.م0.10 (vs ج.م0.11 in 1Q 2021) First quarter 2022 results: EPS: ج.م0.10 (down from ج.م0.11 in 1Q 2021). Revenue: ج.م87.2m (up 70% from 1Q 2021). Net income: ج.م26.5m (down 11% from 1Q 2021). Profit margin: 30% (down from 58% in 1Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Board Change • Apr 27
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 9 experienced directors. No highly experienced directors. No independent directors (9 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Valuation Update With 7 Day Price Move • Apr 21
Investor sentiment improved over the past week After last week's 16% share price gain to ج.م3.25, the stock trades at a trailing P/E ratio of 10.8x. Average trailing P/E is 13x in the Real Estate industry in Egypt. Total returns to shareholders of 15% over the past three years. Reported Earnings • Mar 05
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: ج.م0.30 (down from ج.م0.33 in FY 2020). Revenue: ج.م133.3m (down 28% from FY 2020). Net income: ج.م80.9m (down 11% from FY 2020). Profit margin: 61% (up from 49% in FY 2020). The increase in margin was driven by lower expenses. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Dec 06
Investor sentiment improved over the past week After last week's 19% share price gain to ج.م4.19, the stock trades at a trailing P/E ratio of 18.3x. Average trailing P/E is 26x in the Real Estate industry in Egypt. Total returns to shareholders of 42% over the past three years. Valuation Update With 7 Day Price Move • Oct 04
Investor sentiment improved over the past week After last week's 16% share price gain to ج.م5.51, the stock trades at a trailing P/E ratio of 17.6x. Average trailing P/E is 22x in the Real Estate industry in Egypt. Total returns to shareholders of 148% over the past three years. Valuation Update With 7 Day Price Move • Sep 09
Investor sentiment deteriorated over the past week After last week's 16% share price decline to ج.م6.18, the stock trades at a trailing P/E ratio of 19.7x. Average trailing P/E is 25x in the Real Estate industry in Egypt. Total returns to shareholders of 105% over the past three years. Valuation Update With 7 Day Price Move • Aug 15
Investor sentiment improved over the past week After last week's 16% share price gain to ج.م5.80, the stock trades at a trailing P/E ratio of 16.2x. Average trailing P/E is 19x in the Real Estate industry in Egypt. Total returns to shareholders of 94% over the past three years. Valuation Update With 7 Day Price Move • Jul 29
Investor sentiment improved over the past week After last week's 16% share price gain to ج.م4.98, the stock trades at a trailing P/E ratio of 13.9x. Average trailing P/E is 25x in the Real Estate industry in Egypt. Total returns to shareholders of 66% over the past three years. Reported Earnings • Jun 18
First quarter 2021 earnings released The company reported a solid first quarter result with improved earnings and revenues, although profit margins were weaker. First quarter 2021 results: Revenue: ج.م51.2m (up 42% from 1Q 2020). Net income: ج.م29.8m (up 38% from 1Q 2020). Profit margin: 58% (down from 60% in 1Q 2020). The decrease in margin was driven by higher expenses. Is New 90 Day High Low • Jan 21
New 90-day high: ج.م5.01 The company is up 31% from its price of ج.م3.82 on 22 October 2020. The Egyptian market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Real Estate industry, which is up 15% over the same period. Valuation Update With 7 Day Price Move • Dec 30
Investor sentiment improved over the past week After last week's 16% share price gain to ج.م4.53, the stock is trading at a trailing P/E ratio of 9.7x, up from the previous P/E ratio of 8.4x. This compares to an average P/E of 18x in the Real Estate industry in Egypt. Total returns to shareholders over the past three years are 18%. Is New 90 Day High Low • Oct 25
New 90-day low: ج.م3.75 The company is down 1.0% from its price of ج.م3.77 on 27 July 2020. The Egyptian market is up 6.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Real Estate industry, which is up 10.0% over the same period. Announcement • Jun 19
Pioneers Holding Co. (CASE:PIOH) completed the acquisition of an additional 12.1% stake in United Co. for Housing & Development - S.A.E. (CASE:UNIT) for EGP 97.8 million. Pioneers Holding Co. (CASE:PIOH) made a bid to acquire an additional 51.84% stake of United Co. for Housing & Development - S.A.E. (CASE:UNIT) for approximately EGP 660 million on October 2, 2019. The consideration will be paid as Pioneers Holding shares. As a part of the transaction Pioneers Holding will acquire 146 million shares of United Co. for Housing & Development by issuing 114.61 million shares resulting exchange ratio of 0.781. In related transactions, Pioneers Holding made an offer to acquire shares of Giza General Contracting and Real Estate Investment, Elsaeed Contracting and Real Estate Investment, El Kahera Housing, and Electro Cable Co. On completion, Pioneers Holding will hold 90% stake in these companies. As on March 3, 2020, the Board of Directors of Pioneers Holding approved the fair value studies for these transactions. As on March 9, 2020, the Board of Directors of Pioneers Holding decided to proceed with these transactions. As on May 10, 2020, Pioneers Holding has begun to execute the acquisition and this offer last until June 9, 2020.
Pioneers Holding Co. (CASE:PIOH) completed the acquisition of an additional 12.1% stake in United Co. for Housing & Development - S.A.E. (CASE:UNIT) for EGP 97.8 million on June 17, 2020. 
