Orascom Development Egypt recorded a 218.7% increase in net real estate sales to EGP 5.5 billion! That is a magnificent indicator once compared to EGP 1.74 billion in 2018.
On a further note, interest costs decreased by 13.3% to reach EGP 325.5 million in 2019 vs. EGP 375.3 million in 2018. It is important to note that earnings before interest, taxes, depreciation, and amortization margins were affected by O West, due to the upfront launch sales and marketing expenses during the period. Higher margins from O West will start to kick in the year 2020 on wards. Notably, O West the first home project in West Cairo was the largest contributor to new sales (63.4% of sales), followed by El Gouna (30.3% of sales) and Makadi Heights (5.8% of sales). The EGP 5.5 billion net sales results contributes to Orascom’s real estate sales full year target of EGP 6.5 – 7.0 billion.
For prices and more details on Orascom properties: click on Orascom or #AskNawy or call us on +201022088888
If you wish to know more about what’s available in the real estate market, you can visit us on our website Nawy and take a look at our wide selection of exclusive homes.
Mivida Gardens Compound is one of the premium mixed-use developments at the heart of East…
We know that purchasing a real estate property can feel overwhelming. Between locations, layouts, and…
Real estate brokerage and technology going hand in hand has made the industry unstoppable. It…
Elite education is the top priority of parents looking for a new school for their…
The real estate industry has been in an unparalleled evolving state for a while now,…
Before diving into the Hyde Park 6th Settlement master plan, let's ask you some questions.…