CAIRO – 23 February 2021: Orascom Development Egypt (ODE) recorded a 32.3 percent increase in real estate sales in Q4 2020. It recorded net real estate sales of LE 1.8 billion during the fourth quarter of 2020, up from LE1.4 billion during the same quarter of 2019. As for full 2020, ODE ended the year with net real estate sales of LE 6.2 billion, compared to LE 6.9 billion in 2019. According to the company, El Gouna and Makadi Heights real estate sales benefited from the concentration of extended-stay from people during the lock-down. “We witnessed an increase in demand on our real estate units since May 2020, and we were able to capitalize on that demand by continuing to boost our real estate offerings to cater to the different needs,” it commented.

Source: Egypt Today February 23, 2021 13:30 UTC