Arab Finance: Occupancy at tourist facilities operated by Orascom Development Egypt (ODE) rose to about 75% in the first half (H1) of 2026, Chairman Eskandar Tooma told Asharq Business.

Tooma said foreign visitors accounted for nearly 90% of guests despite regional geopolitical unrest and the war in Ukraine.

Average daily room rates increased by 25%, he noted, while tourism contributed between 20% and 30% of the company’s total revenue over the past five years.

Tooma added that Egypt’s tourism sector had benefited as geopolitical instability prompted some travelers to switch from other destinations in the region to Egypt.

In the first half (H1) of 2026, ODE posted a 6.26% decline in its consolidated revenue, recording EGP 2.959 billion from EGP 3.157 billion in H1 2025.

The company’s consolidated net profits after minority interest rose to EGP 14.817 million in the six months to June, compared to EGP 11.529 million in H1 2025.

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 infrastructure, such as hospitals, schools, and utilities.