Orascom expands its footprint in Dubai

Inayat-ur-Rahman, Business Editor

Orascom Development Holding (ODH), leading developer of fully integrated towns, announced on Thursday the launch of its first international sales office in Dubai to serve its customers in the region and around the world.

The new Orascom Development office, based in the Business Bay district, will manage the sales of its real estate projects across its destinations in Egypt, Oman, Morocco, Switzerland, Montenegro and the United Kingdom.

Omar El-Hamamsy, Group CEO of Orascom Development Holding told Gulf Today during an exclusive interview that his company’s foray into the ‘City of Wonders’ reflects Dubai’s strong business and economic fundamentals, including its ideal strategic geographic location, which offer seamless access to regional and global markets and robust investment regulatory frameworks.

He mentioned that Dubai stuns the world by hosting Expo 2020 successfully, adding that the mega event has opened more avenues for local and global investors to tap the market.

“We are pleased to open our first international sales office in Dubai to manage sales across our integrated towns and destinations in 6 countries, in a pivotal step to be closer to our customers.”  

“We continue to provide services with international standards to the GCC countries and the world. Thanks to its rich cultural diversity, as well as the UAE’s success in topping the newly launched Best Investment Migration Real Estate Index in 2022, we chose to open our first office of that type in Dubai, as it remains to be a cosmopolitan city with more than 200 nationalities residing here.”  Hamamsy added.

In 2021, Orascom Development Holding achieved the highest real estate sales in its history worth $717.4 million , an increase of 57.7% compared to $455 million in 2020. With the Swiss destination achieving a further $131.7 million in 2021, the company’s global aggregate reached $849.2 million.

“As we look ahead, our strategy is to unlock the potential of untapped regions and lands to transform them into vibrant towns based on three important foundations: we firstly design and build resilient infrastructure and facilities to meet the needs of the residents of our towns – including schools, hospitals, malls and sports clubs. Secondly, we apply international best practices when it comes to environmental and sustainability standards, in addition to maintaining symmetry between the area’s natural landscape and architecture to ensure its harmony with the surroundings. Thirdly, we rely on organizing cultural, arts, sports and entrepreneurship events to enhance the town’s economic and social aspects.”  Hamamsy concluded.