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Orascom Development Egypt’s (ODE) is planning to invest $500 million in 2024, compared to $400 million in 2023, Asharq Business reported, citing the company’s CEO Omar El Hamamsy.
El Hamamsy pointed out that 50% of the $500 million investment will be allocated for projects in Egypt, mainly in El Gouna, West Cairo, and Makadi.
It is worth noting the ODE’s consolidated revenues soared to EGP 4.175 billion during the first quarter (Q1) of this year from EGP 2.952 billion in Q1 2023.
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