Orascom Development Egypt posted a 9.89% uptick in its consolidated net profits after minority interest, recording EGP 3.108 billion during 2024, compared to EGP 2.828 billion in 2023.

Orascom Development has appointed Hazem Helal as the CEO of O West, Makadi Heights, and Byoum, three of its integrated communities in Egypt.

The International Finance Corporation (IFC) is supporting Orascom Development Egypt (ODE) with a sustainability-linked loan (SLL) of $155 million to enhance energy and water efficiency and reduce greenhouse gas (GHG) emissions in hotels in El Gouna on the Red Sea.

Orascom Development Egypt (ODE) has finalized the sale of a 110,000-square-meter land plot in El Gouna to Hassan Allam Properties for $37.4 million.

Orascom Development Egypt posted a 1.85% year-on-year (YoY) rise in its consolidated net profits after minority interest, recording EGP 1.835 billion during the first nine months of 2024, compared to EGP 1.802 billion.

Orascom Development Egypt’s hotels in the Sinai Peninsula have seen a sharp decline in occupancy rates from 70-80% to just 10-20% amid escalating regional tensions due to the Gaza conflict, Egyptian businessman Samih Sawiris said.

Orascom Development Egypt (ODE) has signed an agreement with the International Finance Corporation (IFC) to secure a loan worth $155 million.

Orascom Development Egypt (ODE) has sold a commercial building in O West to Seoudi Supermarket for EGP 332 million.

Orascom Development Egypt posted a 64.9% surge in its consolidated revenue during the first half (H1) of 2024, recording EGP 10.221 billion from EGP 6.191 billion in H1 2023.

Orascom Development Egypt’s (ODE) subsidiary Makadi Heights for Tourism Development Company (Makadi Heights) has accepted the Egyptian Tourism Development Authority’s (TDA) request for an additional payment of $5.6 million in exchange for an eight-year new development timeline for Makadi Heights' remaining undeveloped land bank.

Orascom Development Egypt (ODE) has announced the sale of a 145,266-square-meter land plot in El Gouna for EGP 1.54 billion.

Orascom Development Egypt's consolidated revenues soared to EGP 4.175 billion during the first quarter (Q1) of this year from EGP 2.952 billion in Q1 2023.

Real estate investors based abroad have controlled 37% of Orascom Development Holding’s (ODH) sales, the firm’s CEO Amr El Hamamsy said.

Orascom Development Egypt’s (ODE) real estate sales grew by 74.9% year on year (YoY) in 2023 to EGP 19.5 billion, compared to EGP 11.1 billion in 2022, as per an emailed press release on February 13th.

Orascom Development Egypt (ODE) posted a 30.3% year-on-year (YoY) increase in its consolidated net profits after non-controlling interest during the first nine months of 2023.

Orascom Development Egypt’s (ODE) real estate sales grew by 80% year on year (YoY) in the first nine months of 2023 to EGP 13.1 billion.

Orascom Development’s fully integrated cities Makadi Heights and Byoum have signed a 10-year cooperation protocol with Orange Egypt to provide advanced digital solutions for the second phase of both cities.

Orascom for Real Estate (ORE), a subsidiary of Orascom Development Egypt (ODE), has signed a 10-year syndicated loan agreement worth EGP 6 billion to finance its O West residential project in Cairo.

A block-trading transaction has been executed on 15.501 million shares of Orascom Development Egypt for EGP 155.013 million.

Orascom Development has appointed Stuart Leven as CEO of its wholly owned subsidiary Orascom Hotels Management (OHM).