(2017-08-21) OHD to kick-start a housing project in Hurghada's El-Gouna Orascom for Hotels and Developments (ORHD) is poised to build a housing project in Hurghada's El-Gouna city by this year end to be accomplished within two years, as it eyes USD19.5mn sales.
" OHD has recorded 100% spike in sales of housing units during the past 6 months to EGP719mn on the back of EGP705mn sales in El-Gona," Al-Mal newspaper quoted manager of investors relations Sara El-Gohary as saying, noting that the company usually put up nearly 5 housing projects every year in diverse areas.
On the other hand, Sara predicted the second phase of OHD's administrative complex in El-Gouna under name ' G Space' to be ready for rents by this year end.
OHD's results jumped to records in all its operational sectors, notably hotels, with revenues amounting to EGP448mn up from EGP183mn earlier, as real estate sector recorded EGP300mn up from EGP222mn.
" Backed by a series of hotel renovations to be finalized by 2017,OHD is expected to continue recording profits in the upcoming period, as its hotel occupancy rates have jumped by 75% to 80% by this year end," said Sara.
