Orascom Development Egypt (ODE) (EGX: ORHD.CA) has released its consolidated financial results for FY 2020, Invest-Gate reports.

Orascom Development Egypt (ODE) achieves an increase of 32.3% in 2020's quarter four property sales and ends the year with net sales of EGP 6.2 bn and cash balance of EGP 2.1 bn, Invest-Gate reports.

Some Egyptian businessmen have recently acquired the New City Housing and Development Company (NCHD), a subsidiary of Orascom Development Egypt (ODE), through an English investment fund and one of GB Capital companies owned by Raouf Ghabbour, in a move valued at USD 50 mn (EGP 787.1 mn).

Orascom Development Egypt (ODE) has signed off on selling a 35.25% stake in its subsidiary New City Housing and Development Company (NCHD), at a total cost of EGP 128.6 mn, in line with its strategic plans to reinforce core business areas.

Orascom Development Egypt's (ODE) flagship project on the Red Sea coast of Hurghada, Makadi Heights, will soon see integrated telecommunication services, under the signing of a cooperation agreement with Telecom Egypt - WE.

Orascom Development Egypt (ODE) has sealed a medium-term loan deal worth USD 265 mn (EGP 4.1 bn) to refinance outstanding debt and bankroll growth plans.

O West, Orascom Development Egypt’s (ODE) first home project in Cairo, has announced its sponsorship of the El Gouna Film Festival (GFF), which will be held from October 23 to 31.

Mangroovy for Hotels and Orascom Development Egypt (ODE) have signed a land sale contract worth EGP 104.8 mn for merely 40,654.5 square meters of land area in its Red Sea resort town of El Gouna.

Orascom Development Egypt (ODE) closed 2019 on a solid operational and financial stance, achieving FY 2019's targets, and recording EGP 6.9 bn of net real estate sales, the highest value in ODE’s history, Invest-Gate reports.

Egypt's developer Orascom Development Egypt (ODE) signed a cooperation agreement with Cairo for Investment and Real Estate Development (CIRA) to establish two schools at O West integrated community in the 6th of October City, with a total investment of EGP 450 mn