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ODE records 16.9% YoY growth in H1 real estate sales 

ODE records 16.9% YoY growth in H1 real estate sales 

Arab Finance: Orascom Development Egypt (ODE) (ORHD) recorded net real estate sales of EGP 4.7 billion in the first half (H1) of 2022, up by 16.9% year-on-year (YoY), according to the company’s H1 2022 preliminary unaudited key performance indicators (KPIs) released on July 19th. 

Net sales were driven by the 39.4% YoY increase in new sales for the second quarter (Q2) of 2022. 

New sales amounted to EGP 2.7 billion in Q2 2022, compared to EGP 1.9 billion in Q2 2021. 

El Gouna registered new real estate sales of EGP 1.1 billion in Q2 2022, rising by 8.6% YoY from EGP 1.0 billion in Q2 2021, which brings H1 2022 sales to EGP 2 billion. 

In O West, sales reached EGP 2.4 billion in H1 2022, growing by 73.6% from EGP 1.4 billion in H1 2021. 

Meanwhile, real estate sales in Makadi Heights dropped to EGP 304.4 million in H1 2022, compared to EGP 583.9 million in H1 2021. 

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