Table of Contents
Key Points
- Orascom shifts primary share listing from Nasdaq Dubai to ADX, reinforcing Gulf expansion strategy.
- Egypt’s Sawiris family-led Orascom plans ADGM headquarters relocation, eyeing Gulf mega projects and stronger investor base.
- Q1 2025 revenue rises 10.6% to $847.6 million; net profit plunges 45.6% amid project delays and arbitration loss.
Orascom Construction, the multinational construction giant controlled by Egypt’s richest family, the Sawiris family, has won board approval to shift its primary share listing from Nasdaq Dubai to the Abu Dhabi Securities Exchange (ADX), reinforcing its long-term commitment to the Gulf markets.
The company will maintain its secondary listing on the Egyptian Exchange (EGX), while delisting from Nasdaq Dubai. The move, subject to shareholder and regulatory approval, marks a strategic realignment of one of the Middle East’s leading construction firms toward the UAE’s deepening capital markets.
Orascom Construction also plans to relocate its headquarters from the Dubai International Financial Centre (DIFC) to Abu Dhabi Global Market (ADGM), pending completion of required formalities. The UAE’s expanding regulatory infrastructure and growing investor base are seen as key drivers behind the shift.
Orascom deepens EGX footprint, eyes Gulf mega projects
In March, Orascom commenced trading on the EGX under the ticker “ORAS,” successfully raising EGP 1.41 billion ($28.9 million) through a domestic public offering of 11 percent of its total share capital. The firm became the first entity to achieve a dual listing on Egypt’s EGX and the UAE.
Founded by the late Onsi Sawiris, Orascom Construction has evolved into a multinational engineering powerhouse with a diversified portfolio spanning power, water, transportation, and sustainable energy assets. The Sawiris family continues to guide the company’s strategic direction, with Nassef Sawiris—Egypt’s richest individual—holding a significant stake.
Strong revenue, profit decline, and arbitration setback
For Q1 2025, the company reported a 10.6 percent rise in revenue to $847.6 million, up from $766.3 million a year earlier. However, net profit slumped 45.6 percent year-on-year to $25.1 million, down from $46.1 million in Q1 2024, partially due to project delays and legal expenses.
Earlier in June, Orascom and its partner OHL were ordered to pay $28.7 million to Qatar Foundation after losing a prolonged arbitration case.
Future strategy centers on the UAE and Saudi Arabia
Looking ahead, Orascom plans to reduce its Egypt-based projects to one-third of its total portfolio by 2026, with a focus on scaling operations in Saudi Arabia and the UAE. It recently secured a $2.6 billion EPC contract to expand the Qurayyah Independent Power Plant in the Kingdom.
With its growing emphasis on Gulf markets, Dubai continues to serve as a vital financial hub for the company’s strategic pivots—even as its primary listing transitions to Abu Dhabi.
