Orascom Development Egypt (ODE) announced the official launch of O West, with 950 units worth EGP3.3bn, including duplexes, penthouses and lofts. The soft launch included 400 units varying from single-family homes, standalone villas, twin and town houses with an average selling price of EGP 22,300/sqm for core and shell. The contracted sales figures from the soft launch will be disclosed in ODE’s 4Q18 results on 26 March. (Company disclosure)
Orascom Development Egypt: EGP7.10 as of 28 Feb. 2019, Rating: Buy, TP: EGP8.00/share, MCap: USD450mn, ORHD EY/ORHD.CA
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