Almost 20 years ago, the Group began with a simple idea – to create a little piece of paradise on the exquisitely desolate Red Sea. El Gouna has since evolved into a fully integrated town with a population of around 12,000 to 15,000 inhabitants, and a steady yet growing flow of hotel guests throughout the year. Orascom Development is now crossing over to new shores to bring its expertise and environmentally friendly developments to some of the most breathtaking locales in the Middle East, Europe and around the globe.

At Orascom Development we remain firmly dedicated to expand our portfolio internationally, broadening our scope. We are already diversified geographically and active in three continents. Nevertheless, we intend to inaugurate more projects. This will enhance the share of our international presence and reduce the exposure to any single country over time. Our international expansion is driven by the confidence we have in our tried and tested business model, which combines the acquisition of undeveloped land in prime locations, the development and marketing of fully integrated towns, and active partnerships with the best international hotel management chains. The Group controls the entire value chain from the inception of a new town, overlooking various development stages until it becomes self-sufficient and mature. This integrated business model allows tight cost control as well as efficient deployment of resources and leads to incremental value creation for existing properties as well as for the residual land.

A key long term value driver for the Group is our land bank, which we have been awarded in several jurisdictions at nominal costs. One of the main criteria for the selection of a particular site is whether Orascom Development can take control of sufficient land to have enough space to develop self-sufficient communities and towns.

We are dedicated to create value in real estate over the medium to long term. We retain majority ownership in the hotels, commercial real estate, facilities and staff housing of the respective towns while pre-selling the residential units. The revenues generated in those towns therefore primarily originate from the sale of residential units (villas and apartments), from hotel operations, from the rental of commercial properties, and from the management of infrastructure and other facilities.