Arab Finance: Bonyan Real Estate Investment reported a 46.8% year-on-year (YoY) growth in total revenue for the first nine months of 2026, as per the company’s earnings release.
Total revenues hit EGP 878.2 million at the end of September 2026, up from EGP 598.1 million in the year-ago period.
The company’s rent revenues, including straight-line rental revenue accounting, rose 18.2% YoY in the nine months to EGP 648.7 million from EGP 546.7 million.
This growth was driven by new lease contributions from Nestlé at Golden Gate and Building 44, Kortech at Building 106B, a 42% increase in WOC rental revenues, and embedded contractual escalations across the portfolio.
As for sales revenue from retail units during the nine-month period of 2026, Bonyan completed the sale of four units in the basement and one office unit totaling 1,674 square meters, with an aggregate contracted sales value of EGP 221 million.
Meanwhile, the company secured a reservation for the sale of a 634-square-meter unit to a bank for EGP 120 million in cash, with the transaction expected to close in the next quarter.
Moreover, Bonyan achieved a net income of EGP 1.268 billion in the first nine months of the year, down 29.8% YoY from EGP 1.805 billion.
Commenting on the company’s performance, CEO Tarek Abdelrahman said: “Bonyan’s performance during the first nine months of 2026 reflects the continued execution of our strategy to unlock embedded value across our portfolio. Recurring net income increased by 129% YoY to EGP 219 million, while operating cash flow grew by 22% to EGP 516 million, supported by lease repricing, new rental contributions, lower financing costs, and disciplined financial management.”
“During the period, the Company renewed seven leases, including three at Walk of Cairo at rates 76% above previous legacy levels and four in East Cairo at rates 47% higher, while signing fifteen new tenants across the portfolio,” he added.
“During October 2026, the Board approved a treasury buyback program of up to 4% of the Company’s shares. The buyback reflects confidence in Bonyan’s stock. At the current market capitalization, the Board views Bonyan as a highly attractive investment opportunity,” the CEO pointed out.
Regarding the company’s future, Abdelrahman noted: “Looking ahead, we remain focused on capturing the significant embedded rental upside across our assets, strengthening recurring cash flows, and selectively monetizing units in the WOC. Supported by a high-quality commercial portfolio and a prudent capital structure, we remain confident in our ability to deliver sustainable earnings growth and long-term shareholder value.”
