The headlines from this morning

Missed this morning’s edition of EnterpriseAM? Here are the top stories in a nutshell.

• Owners trying to sell Cairo property are pricing against developers’ headline prices, which carry years of built-in financing, so buyers who can pay up front have little reason to meet them, JLL Egypt’s Ayman Sami and HC Securities’ Mariam Saadani tell EnterpriseAM. Sale prices rose just 2.8% q-o-q in 6th of October City in and 2.4% in New Cairo in 2Q 2026, according to JLL’s report, which says the market has “entered a saturation phase”;
• Banque du Caire’s consolidated net income fell 20% y-o-y to EGP 4.17 bn in 3Q 2026, by our math, based on the state-owned lender’s first post-IPO earnings release. Net income was also down 13.1% q-o-q in the quarter, though it’s still up 4.7% y-o-y to EGP 13.11 bn over the first nine months of the year;
• Our friends at CIRA Education more than tripled their normalized net income to EGP 966.9 mn in FY 2025/26 as revenue rose 33% to EGP 5.1 bn. Most of the growth came from higher education, where enrollment jumped 50% to 38.8k students and pushed available-seat utilization to 95% from 67%, while the K-12 network grew to 30 schools across nine governorates;
• Egypt’s Cheiron signed an agreement with state gas holding company Egas to explore for natural gas in the East Alexandria offshore area, committing a minimum investment of just over USD 42 mn to drill three exploration wells and reprocess seismic data in the Mediterranean concession. The agreement finalizes the block Cheiron picked up in Egas’ global bid round in June 2025, when it was one of six companies that were handed new blocks.