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Tuesday, 26 June 2018

ODH aims to turn Gouna into year-round business destination, inks business park contract with German tenant

ODH aims to turn Gouna into year-round business destination, inks business park contract with German tenant: Orascom Development Holding announced yesterday it had signed a USD 6.7 mn, nine-year lease agreement with a German company for the first business park the developer is building in El Gouna. “ODH will build the office building for the German company at Al-Bustan area South of El Gouna with a total land area of 7,955 sqm,” the company said. The project, which should be complete in June 2019, will see the unnamed Germany company “move their business processes outsourced from Bavaria, Germany to El Gouna, Egypt with more than 400 employees of different nationalities.” The agreement is part of ODH’s plans to turn El Gouna into a regional business hub and year-round destination.

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