Orascom Development

In Continuation of Developing Its Infrastructure: O West Collaborates With Orange Egypt to Provide Its High-Tech Network Services for 10 Years

Sun, 10 Sep 2023 - 10:43 GMT

O West, one of Orascom Development’s fully integrated towns in West Cairo, signed a 10-year agreement with Orange Egypt, the leading provider of integrated telecommunications services. This new partnership allows Orange Egypt to provide O West with cutting-edge network services and advanced digital infrastructure, aligning with world technology standards and Egypt's vision 2030 for digital transformation.

Egypt's Environment Min. seeks compensation from Orascom Development amounting to $33.9M

Tue, 03 Aug 2021 - 04:06 GMT

ODE added that the Environment Protection Agency has not substantiated the claim or provided any information on the background and the reasons, and it has failed to respond to ODE's request for further information.

Orascom Development records profits of LE 532.18M in 2020

Tue, 16 Mar 2021 - 02:15 GMT

As per standalone results, Orascom recorded profits of LE 403.8 million in 2020, compared to LE 634.12 million during 2019.

Orascom Development records net real estate sales of LE6.2B in 2020

Tue, 23 Feb 2021 - 01:24 GMT

As for full 2020, ODE ended the year with net real estate sales of LE 6.2 billion, compared to LE 6.9 billion in 2019.

Orascom Development sells land in El Gouna to Mangroovy for Hotels for LE104.8M

Thu, 06 Aug 2020 - 10:59 GMT

Under the agreement, “Mangroovy for Hotels” will buy 40,654.5 m2 of land in El Gouna, as an extension for its project.

Orascom Development signs agreement with NIS to develop schools in O West

Thu, 04 Jun 2020 - 10:02 GMT

This agreement comes within the company’s land monetization strategy which secures a total of c. LE 535 million of cash inflows from these agreements to date.

Samih Sawiris calls on gradual opening of hotels in favor of low-class

Sun, 12 Apr 2020 - 06:39 GMT

The businessman expected that the Egyptian tourism to return to its strength again during the months of October and November 2020.

Orascom Development takes precautionary measures due to COVID-19 ramifications

Sun, 12 Apr 2020 - 02:47 GMT

The purpose of these measures is to reduce spending and preserve cash to the longest period possible to ensure stability of the Group’s destinations

Orascom Development records profits of LE 705.2M in 2019

Sun, 12 Apr 2020 - 01:09 GMT

As per standalone profits, the company recorded profits of LE 634 million during 2019, compared to LE 153.7 million in 2018.

Orascom Development achieves profits of LE501.2M in 9 months

Wed, 13 Nov 2019 - 01:56 GMT

The standalone results turned into profitability by LE 403.7 million during the first nine months of 2019, compared to a loss of LE 119.27 million in 2018.

Orascom Development sells equity stake in Oberoi Zahra for $4M

Mon, 08 Jul 2019 - 01:17 GMT

“The sale of Oberoi Zahra will result in cash proceeds of $2 million and proceeds from the sale will be geared towards the expansion plans of the group.”

Orascom Development sells 87% of its stake in Tamweel for LE360M

Tue, 18 Jun 2019 - 03:01 GMT

According to ODE’s statement, the share transfer has been executed after obtaining all necessary approvals and ODE will now start receiving the LE 313 million cash proceeds.

Orascom Development honoured in bt100 awards ceremony for leadership in stock market performance

Tue, 05 Mar 2019 - 02:40 GMT

Manal Hussein, Chairman and CEO Orascom Development, receiuved the bt100 crystal award on behalf of Orascom Development for their leadership in stock market performance.

Orascom Development signs agreement to construct residential project

Wed, 12 Dec 2018 - 03:20 GMT

Orascom clarified in a filing to the Egyptian Exchange (EGX) that NUCA's shareof the total residential sales is 26 percent for the first eight years.