Orascom Development Egypt (ORHD)

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News

12 November 2024 00:25 PM Orascom Development Egypt records highest sales at EGP 23.1bn in 9M-24

Cairo – Mubasher: Orascom Development Egypt logged real estate sales amounting to EGP 23.10 billion in the first nine months (9M) of 2024, marking a 77% year-on-year (YoY) increase. The company sustained its positive momentum, achieving impressive …

Real estate

16 October 2024 03:34 PM Orascom Development Egypt completes $155m in debt financing with IFC

Cairo – Mubasher: Orascom Development Egypt inked a $155 million loan facility with the International Finance Corporation (IFC), which will be initially used to refinance the company’s existing debt. The financing will also be directed to fund …

Banking and Finance

28 August 2024 02:56 PM Orascom Development Egypt unveils EGP 332m sale deal

Cairo – Mubasher: Orascom Development Egypt has sold a commercial building to Seoudi Supermarket within the O West commercial strip at a value of EGP 332 million. the transaction aims to integrate the first supermarket in the destination, which …

Real estate

13 August 2024 03:58 PM Orascom Development Egypt’s consolidated revenues skyrocket 65% in H1-24

Cairo – Mubasher: Orascom Development Egypt posted consolidated net profits valued at EGP 942.76 million in the first half (H1) of 2024, lower than EGP 1 billion in H1-23. Net revenues amounted to EGP 10.21 billion in H1-24, up 64.90% year-on-year …

Real estate

7 July 2024 10:08 AM Orascom Development’s unit finalises deal with Egyptian authorities for Makadi Bay land

Cairo – Mubasher: Orascom Development Egypt (ODE) announced that its subsidiary, Makadi Heights for Tourism Development, has concluded an agreement with the Tourism Development Authority for an additional grace period of 8.50 years for its …

Real estate

2 July 2024 01:22 PM Orascom Development Egypt unveils EGP 1.4bn sale deal

Cairo – Mubasher: Orascom Development Egypt (ODE) sold 145,266 square metres of land in El Gouna at a value of EGP 1.54 billion, according to a press release. The land sale, executed at 15 times its book value of EGP 101 million, marks the most …

Companies Investments

15 May 2024 00:26 PM Devaluation leads Orascom Development Egypt to EGP 984m loss in Q1-24

Cairo – Mubasher: Orascom Development Egypt (ODE) turned to a consolidated net loss of EGP 984.50 million in the first quarter (Q1) of 2024, versus a net profit of EGP 384 million in the corresponding quarter in 2023. Revenues leapt to EGP 4.17 …

Financial Results

11 March 2024 11:45 AM Orascom Development Egypt sees 63.5% higher profits in 2023

Cairo – Mubasher: Orascom Development Egypt (ODE) recorded net profits valued at EGP 3.10 billion in 2023, marking a 63.50% year-on-year (YoY) leap, according to a press release. The higher profits were driven by record sales of EGP 19.40 billion …

Real estate

14 February 2024 10:47 AM Orascom Development Egypt’s sales leap to EGP 19.5bn in 2023

Cairo – Mubasher: Orascom Development Egypt (ODE) surpassed all its previous records in real estate sales to reach EGP 19.50 billion in 2023, marking an annual surge of 74.90% from EGP 11.10 billion. The EGX-listed firm highlighted that …

Financial Results

14 November 2023 11:13 AM Orascom Development Egypt’s 9M-23 profits jump 33%; new sales cross EGP 13bn

Cairo – Mubasher: Orascom Development Egypt (ODE) logged net profits valued at EGP 2.03 billion in the first nine months (9M) of 2023, an annual leap of 32.90% from EGP 1.53 billion. The company registered higher profits despite being affected by …

Real estate

20 March 2023 05:51 PM Orascom Development Egypt records EGP 1.9bn consolidated profits in 2022

Cairo – Mubasher: The consolidated net profits after tax of Orascom Development Egypt (ODE) hiked to EGP 1.90 billion in 2022 from EGP 1.31 billion in 2021, including non-controlling interest. The revenues amounted to EGP 10.26 billion in 2022, an …

Financial Results

30 January 2023 01:22 PM Orascom Development Egypt witnesses highest sales in 2022 unaudited results

Cairo – Mubasher: Orascom Development Egypt (ODE) reported an annual hike of 20.70% in net sales to EGP 11.10 billion in 2022, according to the preliminary unaudited key performance indicators (KPIs). During the fourth quarter (Q4) of 2022, the …

Financial Results

14 November 2022 11:18 AM Orascom Development Egypt’s 9M-22 profits top EGP 1.5bn

Cairo – Mubasher: The consolidated net profits of Orascom Development Egypt (ODE) soared by 26.44% yearly during the first nine months (9M) of the year to EGP 1.53 billion, compared to EGP 1.21 billion, including minority shareholders’ rights. The …

Financial Results

27 October 2022 10:40 AM SolarizEgypt invests EGP 97m in solar power plant in Orascom Development’s El Gouna

Cairo - Mubasher: El Gouna, one of Orascom Development’s fully integrated sustainable towns, arranged a field visit to its solar plant in partnership with SolarizEgypt. The solar plant covers an area of 245,000 square meters, with investments …

Macroeconomics

25 October 2022 10:26 AM Orascom Development Egypt to hire advisors to evaluate SODIC's offer to acquire unit

Cairo – Mubasher: The board of directors of Orascom Development Egypt (ODE) met on Monday, 24 October to discuss the non-binding offer submitted by Six of October Development and Investment (SODIC) to acquire 100% of Orascom Real Estate.  The …

Companies Investments

15 August 2022 10:52 AM Orascom Development Egypt’s profit soars to EGP 858.3m in H1

Cairo – Mubasher: The net profits of Orascom Development Egypt (ODE) grew by 15.3% year-on-year (YoY) during the first half (H1) of 2022 to EGP 858.30 million, compared with EGP 744.6 million, including minority shareholders’ rights. Revenues …

Real estate

21 July 2022 05:10 PM Orascom Development Egypt records highest H1 sales in history during 2022

Cairo – Mubasher: Orascom Development Egypt has posted a 16.90% year-on-year (YoY) surge in sales to EGP 4.70 billion during the first half (H1) of 2022. The listed firm pointed out that the sales value marked the highest H1-record in its history, …

Real estate

18 May 2022 10:58 AM Orascom Development Egypt sees 6% higher profits in Q1-22

Cairo – Mubasher: The consolidated net profits of Orascom Development Egypt (ODE) rose by 5.7% to EGP 463.70 million in the first quarter (Q1) of 2022, compared to EGP 438.46 million in the same period of 2021, including minority shareholders' …

Financial Results

20 March 2022 11:31 AM Orascom Development Egypt's profits up 130% in 2021

Cairo – Mubasher: The consolidated net profits of Orascom Development Egypt (ODE) jumped by 130% to EGP 1.31 billion in 2021, compared to EGP 571.32 million in 2020, including minority shareholders' rights. The company generated revenues of EGP …

Financial Results

15 December 2021 03:35 PM Samih Sawiris steps down as Chairman of Orascom

Cairo – Mubasher: Egyptian business tycoon Samih Sawiris is stepping down from his position as the Chairman of Orascom Development Holding (ODH) and will not stand for re-election, according to a press release on Wednesday. Sawiris will be leaving …

Corporate Actions

15 November 2021 01:46 PM Orascom Development Egypt's profits hike 240% in 9M

Cairo – Mubasher: The consolidated net profits of Orascom Development Egypt (ODE) hiked by 239.5% to EGP 1.21 billion during the first nine months of 2021 from EGP 357.39 million in the year-ago period, including minority shareholders' rights. The …

Financial Results

12 October 2021 11:22 AM Orascom Development posts EGP 6.2bn real estate sales in nine months

Cairo – Mubasher: Orascom Development Egypt (ODE) achieved new real estate sales of EGP 2.2 billion in the third quarter (Q3) of 2021, a 50.3% year-on-year (YoY) increase from EGP 1.5 billion in Q3-20, the company's preliminary unaudited key …

Real estate

23 September 2021 05:46 PM Orascom announces operation of two new schools in O West

By: Abdullah Bedeir  Cairo – Mubasher: Two new schools, namely Saxony International School (SIS) and British Columbia Canadian International School (BCCIS), have started operations in Orascom Development Egypt's (ODE) O West in the 6th of October …

Real estate

16 August 2021 11:20 AM Orascom Development Egypt's H1 profit skyrockets 342%

Cairo – Mubasher: Orascom Development Egypt (ODE) recorded a 342.28% year-on-year (YoY) hike in its consolidated net profits, logging EGP 744.58 million in the first half (H1) of 2021, compared to EGP 168.35 million, including minority …

Financial Results

3 August 2021 00:30 PM Orascom Development receives $33.9m compensation claim from Ministry of Environment

Cairo - Mubasher: Orascom Development Egypt (ODE) has received a letter from the Egyptian Environmental Affairs Agency, affiliated with the Ministry of Environment, demanding compensation worth $33.9 million regarding ODE's works in El Gouna. "The …

Company News