Egypt’s Orascom Development 9-month net real estate sales jump 218.7%

Egyptian Orascom Development Holding reported on Wednesday a 218.7 percent year-on-year growth in net real estate sales during the first nine months of the year.

Net real estate sales recorded 5.5 billion Egyptian pounds ($340.8 million), up from 1.74 billion pounds during the first nine months of 2018.

Revenues reached 3.3 billion pounds versus 2.4 billion pounds during the same period last year, marking a 39.4 percent growth.

Profits before interest, tax, depreciation, and amortization also surged 6.7 percent to 1.1 billion pounds, compared with 987.5 million pounds during the first nine months of 2018.