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Orascom Development Egypt (ODE) is pleased to announce the sale of 145,266 sqm of land in El Gouna for EGP 1.54 billion (USD 225/sqm). Image courtesy: Orascom Development Egypt
Cairo - Our first quarter results have once again demonstrated our ability to successfully adapt to and navigate a challenging macroeconomic backdrop that continues to impact our entire line of business. However, our diversified business model has enabled our core underlying business to deliver an outstanding performance despite rising inflation, geopolitical instability, and the devaluation of the EGP, which affected our operational results. We continue to keep a close watch on market dynamics and are confident that our experience and strength will continue to allow us to navigate any future challenges.