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Arab Finance: Real estate company Bonyan for Development and Trade (BONY) reported a 106% year-on-year (YoY) increase in total revenues to EGP 370 million in the first quarter (Q1) of 2026, driven by continued growth in rental income alongside a rise in sales revenues, compared to EGP 179.9 million, as per an emailed earnings release.
Net profits increased by 42.3% YoY to EGP 593.3 million, from EGP 417 million, supported by growth in rental revenues, sales activity, and appreciation in the fair value of the company’s investment property portfolio.
The company added that the recent conversion of the Walk of Cairo basement license increased the project’s sellable area. During the quarter, BONY sold four units totaling 1,573 square meters, with an aggregate contracted sales value of EGP 218 million on an installment basis. This resulted in recognized sales revenues of EGP 175 million during the period, reflecting the present value of the contracted sales.
Cash flow from operations rose by 65% YoY to EGP 193 million in Q1 2026, compared to EGP 117 million in Q1 2025, driven by lease repricing, contractual rental escalations, and the sale of four units at Walk of Cairo during the quarter.
Commenting on the company's earnings, CEO of Bonyan said: “Bonyan delivered a strong start to 2026, supported by continued lease repricing, sustained occupancy levels of 97%, and resilient demand for high-quality commercial assets across Greater Cairo."
"Looking ahead, management remains confident in the Company’s outlook, supported by significant embedded rental upside across the portfolio, with c.40% of EGP-denominated leases expected to rerate during 2026. Together with the planned monetization of the remaining inventory portfolio, these drivers are expected to further support earnings growth, cash flow generation, and long-term value creation for shareholders,” he added.
