Pre-Trading Thoughts

Ras El-Hekma: Potential Addition to TMGH Valuation Is Massive On Friday, the Prime Minister announced a USD35.0 billion investment by ADQ to acquire the development rights for Ras El-Hekma on the North Coast in Egypt. ADQ’s press release mentions TMGH as one of the partners it will work with. In an attempt to preliminarily gauge how much potential value this project could add to our TMGH valuation. We assume TMGH to be brought onboard as a subdeveloper by ADQ to develop a land area of 23.3 mi...