Arab Finance: Orascom Development Egypt’s (ODE) real estate sales grew by 80% year on year (YoY) in the first nine months of 2023 to EGP 13.1 billion, as per an emailed press release.

The firm’s net profits after tax rose 32.9% YoY in the nine-month period to EGP 2 billion.

ODE’s revenues surged 55% YoY during the January-September period, logging EGP 10.4 billion.

ODE, the largest subsidiary of Orascom Development Holding (ODH), is a developer of resort towns, residential units, hotels, and recreational facilities such as golf courses, town centers, and marinas, in addition to supporting infrastructures, such as hospitals, schools, and utilities.

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