DJ Orascom Development Holding AG launches first global sales office in Dubai
Orascom Development Holding AG / Key word(s): Miscellaneous/Miscellaneous Orascom Development Holding AG launches first global sales office in Dubai 2022-03-31 / 19:00
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Media Release
Orascom Development launches first global sales office in Dubai
- Orascom Development achieved its highest ever real estate sales in 2021 with 664.3 million Swiss Francs - an increase of 57.7% compared to 2020.
- Revenues of CHF 538.5 million Swiss Francs in 2021 were achieved, with an increase of 39.6% over the year 2020.
- Extensive experience in building integrated towns for more than 33 years in three continents around the world.
31 March 2022 - Orascom Development Holding (ODH), leading developer of fully integrated towns, announced today the launch of its first international sales office in Dubai to serve its customers in the region and around the world.
The new Orascom Development office, based in the Business Bay district, will manage the sales of its real estate projects across its destinations in Egypt, Oman, Morocco, Switzerland, Montenegro and the United Kingdom.
The move reflects Dubai's strong business and economic fundamentals, including its ideal strategic geographic location, which offer seamless access to regional and global markets and robust investment regulatory frameworks.
During a press conference announcing the new office, Omar El-Hamamsy, Group CEO of Orascom Development Holding said: "We are pleased to open our first international sales office in Dubai to manage sales across our integrated towns and destinations in 6 countries, in a pivotal step to be closer to our customers. We continue to provide services with international standards to the GCC countries and the world. Thanks to its rich cultural diversity, as well as the UAE's success in topping the newly launched Best Investment Migration Real Estate Index in 2022, we chose to open our first office of that type in Dubai, as it remains to be a cosmopolitan city with more than 200 nationalities residing here."
In 2021, Orascom Development Holding achieved the highest real estate sales in its history worth 664.3 million Swiss Francs, an increase of 57.7% compared to 421.3 million Swiss Francs in 2020.
Vast experience El-Hamamsy added: "Orascom Development has extensive experience in building integrated towns for more than 33 years in seven countries across three continents.
"As we look ahead, our strategy is to unlock the potential of untapped regions and lands to transform them into vibrant towns based on three important foundations: we firstly design and build resilient infrastructure and facilities to meet the needs of the residents of our towns - including schools, hospitals, malls and sports clubs. Secondly, we apply international best practices when it comes to environmental and sustainability standards, in addition to maintaining symmetry between the area's natural landscape and architecture to ensure its harmony with the surroundings. Thirdly, we rely on organizing cultural, arts, sports and entrepreneurship events to enhance the town's economic and social aspects."
An international portfolio ODH holds an international portfolio of projects, including the Cove Rotana in the UAE, which was built across 300,000-square-meter area. The Cove Hotel is one of the Orascom Development's most successful projects and was one of the best performing hotels destinations of the Group in 2021, recently witnessing a 34.1% year-on-year (YoY) occupancy increase to reach 55% during 2021, as the hospitality industry bounces back from the pandemic and international tourists return to travel.
In Egypt, ODH's portfolio spans across 50.25 million square meters. It's key projects include: El Gouna: Orascom Development's iconic town and central destination in the Red Sea region, El Gouna is built on a 36.92 million square meter area, surrounded by natural landscapes. Many regional sports and cultural events are held there. Most important among them is the El Gouna Film Festival, which has been organized for 5 years, and the El Gouna International PSA Squash Championship for men and women, which has been hosted in the town for the past nine years. El Gouna also hosts El Gouna Half Marathon and the El Gouna Water Sports Festival. El Gouna has held the title of the Middle East's first sustainable town since 2014. The town's hotels implement various key measures to ensure environmental sustainability, including irrigating more than 75 percent of their green areas with recycled water. The town houses 18 desalination plants and uses environment friendly technologies in many of its construction sites, leading to reduced carbon-dioxide emission, and fuel and water consumption. El Gouna boasts 18 hotels, two marinas, two golf courses, several schools, and sports club. El Gouna real estate sales increased by 72.5% to 235.7 million Swiss Francs in 2021.
O West: Located west of Cairo, O West is ODH's latest addition to its portfolio and its first entry into the first home market. Capturing all life's details, O West is intelligently and harmoniously intertwined to offer a true town living experience in the heart of 6th of October City. O West is set over an area of 4.23 million square meter and designed by world-renowned HOK, one of the largest, most acclaimed architectural design firms in the world. Providing a unique, community-focused environment, O West features cycling and walking accessibility through its neighborhoods, allowing residents to take a breathtaking journey in an urban environment, with a masterplan design originating from its 'Green Fingers' meandering green spaces that span the development. O West offers a variety of unit types and façades tailored for the needs of its target audience and complemented with all the services and facilities required to provide a fully integrated living experience. Residential units cover 3.7 million square meters in land area. An education sector, with five major international schools have already opened their premises in 2022 supporting British, American and German educational systems and spanning over 91,311 square meters, while about 10,000 square meters of area has been allocated to the medical area. Negotiations are ongoing with several prime hospital brands. Additionally, O West sports club that is being built covers 172,200 square meters and considered the biggest sport club in West of Cairo. A modern commercial and retail facilities over 190,000 square meters. O West affirmed its leading position in West Cairo and recorded 231.2 million Swiss Francs in residential sales during 2021, a growth of 39.5% vs.165.7 million Swiss Francs in 2020.
Makadi Heights: Located in Makadi Bay at the Red Sea, 15 minutes from Hurghada International Airport. Over an area of 3.75 million square meters, the design of Makadi Heights strikes a harmony between the town's location at the heart of Makadi Bay and the available spaces. Recently, Makadi Heights launched the master plan in cooperation with US-based EDSA to utilize the charming and calm nature of Makadi Bay, with the aim of building residential units at different levels that can reach 78 meters above sea level, so that residents can enjoy the views of the Red Sea. The town is preparing to host a world music festival, in which workshops and panel discussions will be held with global and local names in the industry. Makadi Heights has continued to maintain an upward trajectory by recording an increase of 158.1% to reach 68.9 million Swiss Francs during 2021.
Hawana Salalah, a Muriya destination is located in the tropical town of Salalah in the Governorate of Dhofar, southeast of Oman. It occupies a 13.6 million square meter area and includes three hotels with more than 1,110 room, the first water park in Oman, a marina with 170 berths, freehold residences, and retail venues, restaurants and cafes. The project real estate sales reached 10.4 million Swiss Francs in 2021. The destination recently saw the launch of its latest real estate project, Laguna Gardens - Azure. Celebrating the finer things in life, the project includes one-bedroom twin house villas, separate villas, as well as vast areas of gardens across the lagoons with stunning views. The destination of Hawana Salalah features unique designs of homes and neighborhoods against a mountainous backdrop, with magnificent lagoons, seven kilometers of sandy white beaches and lush gardens.
Jebel Sifah, Muriya's second destination in Oman is located 40 minutes from the capital city of Muscat, in the Sultanate of Oman. Jebel Sifah is spread over 6.2 million sqm and houses Sifawy Boutique Hotel, freehold residences, which are available to own or rent, an 84-berth marina. The destination also holds the first golf course in Oman. Orascom Development managed to maintain healthy sales volumes throughout the year in Jebal Sifah, despite the lockdowns that were in place. Net sales increased by 3.0% to 27.5 million Swiss Francs during 2021. Chbika Resort, Morocco: Chbika is a place of untapped beauty whose unique landscape combines the ocean, mountains, and sand, which partake in the molding of its architecture. Ideally located approximately 400 km south of Agadir, directly in front of the Canary Island of Fuerteventura on the Atlantic Ocean, Chbika has a total land area of 15.0 million square meters. In line with the sustainable development agreement signed with the Moroccan government and with Morocco's Vision 2020, Orascom Development aims to develop a dynamic tourist engine of social and cultural development that would incorporate local people in the provinces of southern Morocco.
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