Egypt - 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, according to the company’s financial statements.

The company’s consolidated net profits after minority interest fell by 23.54% to EGP 667.923 million in the six months to June, compared to EGP 873.507 million in H1 2023.

In terms of standalone business, the firm’s incurred net losses after tax worth EGP 204.123 million, versus net profits to EGP 484.648 million.

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.

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