He added during an interview with Sky News Arabia on Wednesday that the company began creating integrated and sustainable cities about 35 years ago, noting that “Orascom Development Company has 11 integrated and sustainable cities in 7 Arab and European countries.
“Our performance since the last period has focused on growth first, which has contributed to the company’s sales increasing on average from about 200 to 900 million Swiss francs per year,” Al-Hamasy said.
He explained that adjusted profits have increased on average from 50 to 200 million Swiss francs (about 232 million dollars) annually, and the company has also gone from incurring losses to achieving net profits since 2021, and during the past year the company achieved about 45 million francs.
The CEO of the company confirmed Orascom DevelopmentThe company is working to add more projects that it offers, on a quarterly basis, in all the cities and destinations in which the company operates.
“We presented a new project in the Egyptian city of El Gouna Red Sea It will have residential units, hotels, and commercial activities. We launch 10 to 12 projects per year in all our integrated cities,” according to Al-Hamamsy.
Regarding the company’s view of the Egyptian market, Al-Hamasy confirmed that the Egyptian market represents 30 to 40 percent of the volume of projects and sales for Orascom.
He explained that about 50 percent of the company’s annual sales are in Egypt Come from outside the country.
