Orascom Development Egypt’s real estate sales rise 74.9% YoY in 2023

Reuters/Asmaa Waguih

ODE sold 1,877 units last year, up from 1,444 units in 2022

Staff Writer, Arab Finance

February 14, 2024

PHOTO

Orascom Development Egypt’s (ODE) real estate sales grew by 74.9% year on year (YoY) in 2023 to EGP 19.5 billion from EGP 11.1 billion, as per an emailed press release on February 13th.

ODE sold 1,877 units last year, up from 1,444 units in 2022.

During the fourth quarter (Q4) of 2023, the real estate developer's sales hit EGP 6.352 billion, with an annual growth of 65.9% compared to EGP 3.829 billion in Q4 2022.

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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