• Tuesday, 26 November 2019

    Orascom Development Egypt begins phase two of Makadi Heights

    Orascom Development Egypt has started work on a new phase in its Red Sea development Makadi Heights, the company announced in a statement picked up by Al Mal. The 3.7 mn sqm development is a fully-integrated resort town that is...
  • Monday, 4 November 2019

    Sovereign wealth fund capital to quintuple to EGP 1 tn

    Speaking of the sovereign wealth fund: Egypt’s SWF will see its initial capital rise fivefold to EGP 1 tn from EGP 200 bn after President Abdel Fattah El Sisi directed officials to raise its authorized capital, Planning Minister Hala El...
  • Sunday, 3 November 2019

    Could military-owned companies be set to list on the EGX?

    PRIVATIZATION WATCH- Could military-owned companies be set to list on the EGX or sell stakes to the private sector? President Abdel Fattah El Sisi has raised for the first time the idea of including military companies in his administration’s stake...
  • Tuesday, 24 September 2019

    Thousands of Thomas Cook reservations in Egypt canceled as company goes bust

    Thousands of Thomas Cook reservations in Egypt canceled as company goes bust: Egypt could lose thousands of tourists after British travel group Thomas Cook yesterday went into liquidation. Local operator Blue Sky Group was expecting 100k tourists to visit Egypt...
  • Tuesday, 3 September 2019

    Orascom Development Egypt to launch third phase of O West in September

    Orascom Development Egypt (ODE) will launch the third phase of its O West project west of Cairo in September, CEO Khaled Bishara said, according to Masrawy. Bishara said the new phase will include high-end apartments.
  • Wednesday, 21 August 2019

    Earnings watch: Orascom Development Egypt, Arabian cement

    EARNINGS WATCH- ODE doubles y-o-y profit to EGP 205 mn in 2Q2019: Orascom Development Egypt (ODE) doubled its net profits in 2Q2019 to EGP 205.2 mn, up from EGP 101.5 mn in the same period last year, according to an...
  • Wednesday, 14 August 2019

    Orascom Development Egypt plans hotel expansions in El Gouna

    Real estate developer Orascom Development Egypt is planning to add 200-250 hotel rooms in the Red Sea resort of El Gouna in 2020, Investor Relations Manager Sarah El Gawahergy told Al Mal. Orascom plans to inaugurate the Casa Cook Hotel...
  • Thursday, 25 July 2019

    ODE to launch new real estate project in El Gouna in September

    Orascom Development Egypt (ODE) will launch a new real estate project in El Gouna to coincide with the El Gouna Film Festival in September, Investor Relations Manager Sarah El Gawahergy told Al Mal. The company aims to invest USD 2...
  • Tuesday, 9 July 2019

    ODE sells 51% stake in Oberoi Zahra for USD 4 mn

    Orascom Development Egypt (ODE) has sold its 51% stake in Oberoi Zahra, a Nile cruise floating boat, to a private investor for an enterprise value of USD 4 mn, the company said in a press release (pdf). The sale will...

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