Egypt: ODE sells prime land in El Gouna to Hassan Allam Properties for $37.4mln

This sale is expected to drive further investment in El Gouna's infrastructure, amenities, and facilities, reinforcing ODE’s mission of creating vibrant and self-sustaining communities

Staff Writer, Arab Finance

November 12, 2024

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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, as per a press release on November 12th.

The transaction supports ODE's long-term vision of cultivating El Gouna as a premier destination for residents, visitors, and businesses alike.

This sale is expected to drive further investment in El Gouna's infrastructure, amenities, and facilities, reinforcing ODE’s mission of creating vibrant and self-sustaining communities.

Through partnerships with established developers like Hassan Allam Properties, ODE aims to accelerate El Gouna’s growth and diversify its offerings, aligning with Egypt’s vision for sustainable urban development.

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