EGX‑listed Egyptian Resorts Company (EGTS), the master developer of Red Sea resort city Sahl Hasheesh, is in talks with a potential buyer to sell a stake in the company, a source familiar with the matter told Zawya.

The company’s share price has nearly doubled over the past week, closing at EGP 13.0 on Monday, while the EGX tourism and leisure index rose 7.5%, driven largely by a 20% surge in EGTS.

EGTS said there were no material developments to disclose yet. The company has a market cap of $263.5 million, and a free float of 25%.

EGTS generates revenue primarily from land sales, infrastructure development, utilities provision, and community management fees, positioning it as a destination developer rather than a traditional tourism operator.

The group holds a 78.43% stake in Sahl Hasheesh for Touristic Investment, with operations concentrated on the flagship Sahl Hasheesh development on the Red Sea coast.


(Reporting by Ahmad Mousa; editing by Seban Scaria)

(ahmad.mousa@lseg.com)