Orascom Development Holding AG
Orascom Development Holding AG: largest subsidiary in Egypt, Orascom Development Egypt (ODE) announces the official launch of its first home project ‘O West’.
Orascom Development Holding AG / Key word(s): Miscellaneous/Miscellaneous Press Release Orascom Development Holding AG: largest subsidiary in Egypt, Orascom Development Egypt (ODE) announces the official launch of its first home project “O West”. Altdorf, 28 February 2019 – Following the huge demand and the great appetite that was witnessed on O West’s soft launch in December, the Group held its first brokers day on Wednesday February 27th with very good attendance and announced the official launch of O West. The soft launch phase included 400 units varying from single-family homes, standalone villas, twin and town houses with an average selling price of CHF 1,267 per m2 for core and shell. The official launch includes a wide range of apartments, duplexes, penthouses and lofts consisting of 950 units with a total inventory of CHF 187.5 million. Khaled Bichara, CEO of Orascom Development commented, “I am very pleased with the presales momentum of “O West” which surpassed our expectations, and which also strongly reaffirms the Group’s position as the market leader in building fully integrated towns, benefiting from its very strong brand equity, and unique community management experience and premium quality of infrastructure. We remain proud to be the only local developer with solid international experience in building towns that are vibrant and alive in over 7 countries.” The contracted figures of O West from its soft launch will be announced with ODE’s full year 2018 results on the 26th of March. About Orascom Development Holding (ODH): Disclaimer & Cautionary Statement End of ad hoc announcement |
Language: | English |
Company: | Orascom Development Holding AG |
Gotthardstraße 12 | |
6460 Altdorf | |
Switzerland | |
Phone: | +41 41 874 17 17 |
Fax: | +41 41 874 17 07 |
E-mail: | ir@orascomdh.com |
Internet: | www.orascomdh.com |
ISIN: | CH0038285679 |
Valor: | A0NJ37 |
Listed: | SIX Swiss Exchange |
End of Announcement | EQS Group News Service |