We are proud to be associated with this massive company and the portfolio of high end, luxury property that they have allowed us to sell. The day to day support given to us by their excellent team is helping us to establish ourselves as a permanent fixture in the highly competitive Egyptian Real Estate market.
ABOUT ORASCOM – Orascom Development is a leading developer of fully integrated destinations, including hotels, private villas and apartments, leisure facilities such as golf courses, marinas and supporting infrastructure. Orascom Development has a diversified portfolio of destinations, which is spread over several jurisdictions covering Egypt, the United Arab Emirates (UAE), Oman, Morocco, Montenegro, Switzerland and the United Kingdom.
The Group has developed ten operating destinations to date, including tourist destinations such as El Gouna on the Red Sea coast, Taba Heights in the Sinai Peninsula and Makadi in the Red Sea district, Byoum in Fayoum Egypt, The Cove in Ras Al Khaimah in UAE, Jebel Sifah and Salalah Beach in Oman and Lustica Bay in Montenegro. Other destinations that are classified as investments in associates include Andermatt Swiss Alps (ASA) in Switzerland and the budget housing community of Haram City in the Greater Cairo area in Egypt. Furthermore, we have participations held for investment in JPTD (Jordan Project for Touristic Development) in Jordan and other hotels in Egypt.
The group operates a total of 35 hotels with 8,008 rooms and controls a land bank of approximately 100.3 million m2, only 17.7 million m2 of which are developed, leaving a significant amount of land bank largely untapped.