Orascom Development releases 2nd Annual ‘Life With Purpose’ ESG 2024 Report

Updated 4/22/2025 11:48:00 AM

Arab Finance: Orascom Development Holding has released its second Environmental, Social, and Governance (ESG) 2024 Report under its ESG platform: Life with Purpose, which marks a progressive milestone in the group’s ongoing business, as per an emailed press release.

The group’s promise to customers is to help them live “Life As It Should Be,” which now goes beyond simply enjoying a good life. In 2024, this evolution led to the launch of "Life With Purpose".

The ESG 2024 Report aligns the scope of ESG disclosures with the Global Reporting Initiative (GRI) and the United Nations Sustainable Development Goals (SDGs), as well as the United Nations Global Compact (UNGC) and Swiss Code of Obligations.

“Our ESG 2024 Report reflects our ongoing commitment to environmental responsibility, social inclusion, and transparent governance. Throughout 2024, we were guided by our principles in interacting with our colleagues, suppliers, and partners – strengthening our reputation as a trusted industry leader in placemaking,” Omar El Hamamsy, Orascom Development Group CEO, commented.

“This year’s ESG report marks another step in our journey as we deepen our efforts to advance Orascom Development as a sustainable, multi-national developer of prime destinations,” he added.

In Montenegro, Orascom Development achieved more than 85% waste separation rate for The Chedi Luštica Bay through waste management efforts, while it planted over 100,000 trees in nurseries in Oman.

Meanwhile, in El Gouna, initiatives have focused on upgrading staff facilities, improving social insurance grades for all employees, and expanding medical coverage.