Egypt’s OUD posts $78 mln contractual sales in 2018

Egypt’s property developer Orientals for Urban Development (OUD), affiliated to Oriental Weavers, says it has posted contractual sales worth 1.4 billion Egyptian pounds ($78.1 million) from its projects at the end of the year.

OUD plans to increase the sales within 2019, driven by launching more phases in OUD’s project J’noub in the country’s new capital, chairman Asser Hamdy said on Thursday.

J’noub, OUD’s first project in the new capital, is being executed on a space of 50 feddans in four phases within a three-year timeframe, Hamdy earlier said.

The project is to include 1,900 various housing units that will comprise a number of villas, townhouses, and apartments, he added.