Arab Finance: Orascom Development Egypt (ODE) has denied intentions to invest in the Saudi Arabian tourism sector, according to bourse filing on May 7th.
This came as a response to the recently published news on one of the media platforms claiming that ODE plans to invest in the Saudi kingdom.
ODE, the largest subsidiary of Orascom Development Holding (ODH), is a developer of resort towns, residential units, hotels, and recreational facilities such as golf courses, town centers, and marinas, in addition to supporting infrastructures, such as hospitals, schools, and utilities.