Orascom Development Egypt (ODE) is planning to launch three projects in El Gouna in 2020, including a hotel and two other real estate projects, CEO Khaled Bichara said, according to Al Mal. The details and budget of the projects have not been provided but Bichara said there are more details to follow in 1Q20. The company is also currently working on its 1000-acre O West project in the west of Cairo that it had signed last December with the New Urban Communities Authority (NUCA). We estimate total contracted sales of EGP8,378mn for 2020. 

Mai Attia
 
Orascom Development Egypt: EGP6.42 as of 23 Dec. 2019, Rating: Buy, TP: EGP11.50/share, MCap: USD454mn, ORHD EY/ORHD.CA