The CEO of Orascom Development Holding, Omar Al-Hamamsy, revealed the company’s intention to deliver more than a thousand units in its project in Cairo, “O West”.
Al-Hamamsy said, in an interview with Al-Arabiya, that the company’s sales in all countries exceeded $800 million last year.
He continued, “Our sales in Egypt last year exceeded 11 billion pounds.”
He expected that the sales of the “O West” project would represent half of the company’s sales in Egypt during 2023, to exceed EGP 5.5 billion.
“We are now focusing on controlling price inflation through speedy implementation and delivery,” he said.
He pointed out that the company opened an office in the Gulf, and soon it will open offices in America and Canada to export the drug.
He pointed out that selling in El Gouna is linked to the dollar price, because some buyers in the project are from outside Egypt, and this system has been used by the company for 34 years, adding: “We will not do that in the O West project in the near future.”