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IFC, ODE partner to support green tourism in Egypt

The International Finance Corporation (IFC) is supporting Orascom Development Egypt (ODE) with a sustainability-linked loan (SLL) of $155 million to enhance energy and water efficiency and reduce greenhouse gas (GHG) emissions in hotels in El Gouna on the Red Sea.

Updated 11/25/2024 2:18:00 AM
ODE sells prime land in El Gouna to Hassan Allam Properties for $37.4M

Orascom Development Egypt (ODE) has finalized the sale of a 110,000-square-meter land plot in El Gouna to Hassan Allam Properties for $37.4 million.

Updated 11/12/2024 9:48:00 AM
El Gouna launches Tuban on Red Sea Coast

El Gouna, Orascom Development’s fully integrated and sustainable town in the Red Sea, has launched Tuban, its largest multi-purpose district to date.

Updated 10/1/2024 11:49:00 AM
ODE sells EGP 1.54B land plot in El Gouna

Orascom Development Egypt (ODE) has announced the sale of a 145,266-square-meter land plot in El Gouna for EGP 1.54 billion.

Updated 7/2/2024 11:23:00 AM
Africa’s largest skate park to be built in El Gouna

El Gouna, the fully integrated town by Orascom Development, partnered with Heazy Skate Park to set up the biggest skatepark in Africa.

Updated 3/11/2024 11:12:00 AM
SolarizEgypt to build 2nd phase of El Gouna’s solar plant

El Gouna city has signed a cooperation agreement with SolarizEgypt to establish the second phase of the solar power plant in the city with investments of around EGP 200 million.

Updated 2/21/2024 12:35:00 PM
Egypt's Cultural Festivals: Sparking Tourism and Employment

Film festivals in Egypt, such as the Cairo International Film Festival and El Gouna Film Festivals, have become significant events that contribute to the country's economy, seasonal employment, aviation, and tourism. These festivals not only showcase cinematic works but also provide opportunities for cultural exchange, networking, and collaboration. Moreover, hosting different cultural and musical festivals helps the country boost economic returns from the entertainment industry.

Updated 12/21/2023 10:56:00 AM
El Gouna Film Festival launches EGP 8M Seed Fundings to empower filmmakers

El Gouna Film Festival has launched a Seed Fundings initiative in collaboration with Orascom Development’s O West, with the first phase of the fund valued at EGP 8 million.

Updated 12/19/2023 1:02:00 AM
Forbes Middle East's 2nd Under 30 Summit to kick off in January

Forbes Middle East's second Under 30 Summit is set to take place from January 11th to 14th, 2024, in El Gouna.

Updated 11/7/2023 1:20:00 AM
Ukrainian President’s family ownership of villa in El Gouna denied

El Gouna Spokesperson has denied claims that the family of the Ukrainian President Volodymyr Zelenskyy owns a villa in the town.

Updated 8/31/2023 3:45:00 AM
Orascom Development’s El Gouna launches Fairways project

El Gouna, a fully-integrated town of Orascom Development, has launched its latest project Fairways.

Updated 5/16/2023 3:17:00 AM