Egypt's Orascom opens its first international headquarters in Dubai

The CEO of the Egyptian Orascom Development Company, Omar Al-Hamamsi, said that Dubai will become a center for the company's international operations in the world and the region.

In statements during a press conference held yesterday, on the occasion of the opening of the company's first international sales headquarters in Dubai, he expected many international contracts in the real estate sector to be achieved.

He added that one of the tasks of the new headquarters is managing the company's sales in real estate and tourism investment, as well as its projects in Egypt, Oman, Morocco, Switzerland, the United Kingdom, and Montenegro.

Meeting point

Al-Hamamsi continued: "We are pleased to open our first international sales office in Dubai to manage our sales across our integrated cities and projects in six countries, as a pivotal step, to become closer to our dealers, by providing services with international standards in the Gulf Cooperation Council countries and the world."

He explained that Dubai was chosen, as a meeting point for more than 200 nationalities living on its lands, in addition to the UAE's leadership globally, as the best real estate investment destination for residents in 2022.

quantum leap

Al-Hamamsi pointed out that Orascom recorded a qualitative leap that is considered the highest in its history, as it was able to achieve the highest real estate sales during the year 2021, estimated at $717.4 million, an increase of 57.7% compared to the fiscal year 2020.

He added that with the Swiss destination achieving real estate sales of $131.7 million in 2021, the company's total sales reached $849.1 million.

Extensive experience

Al-Hamamsi said: “We have had extensive experience in building cities for more than 33 years, at a time when the (Orascom Development) strategy is based on transforming untapped areas and lands from desert or fields, into vibrant integrated cities, relying on major axes whose foundation is That the cities be integrated and equipped with facilities, needs and infrastructure, to meet the various requirements of individuals such as schools, hospitals, shopping centers, sports clubs, and other basic services, as well as the application of standards and measures of environmental sustainability, and benefit from clean and renewable energy sources.”

He pointed out that the fluctuations in the prices of the Egyptian pound opened the way for buying real estate, considering the property as one of the value-preserving assets.

Project Portfolio

Orascom owns a large portfolio of projects, including the Cove Rotana Resort project in the UAE, which was completed and delivered on an area of ​​300,000 square meters, and is one of the group's best performing hotel destinations in 2021, as the occupancy rate increased by 34.1% to reach To 55% during 2021 compared to 2020. The hotel witnessed a recovery with the recovery of tourism from the “Covid 19” pandemic, and the return of travel.

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