Orascom Development releases second annual ‘Life With Purpose' ESG 2024 report
Altdorf, Switzerland – Orascom Development Holding, a leading international developer of vibrant, integrated communities in Europe, the Middle East, and North Africa, releases its second Environmental, Social, and Governance (ESG) 2024 Report under its ESG platform: Life with Purpose. The ESG 2024 Report marks a progressive milestone in the Group's ongoing journey to build thriving, integrated, and sustainable communities, where people are empowered, and the environment is respected for future generations.
Orascom Development's promise to customers is to help them live 'Life As It Should Be.' Today, this principle goes beyond simply enjoying a good life; it is also rooted in living life for good and with purpose. In 2024, this evolution led to the launch of "Life With Purpose", its ESG platform focused on ensuring that its destinations are not only beautiful and well-planned but also contribute to a more sustainable and inclusive future. Building on the foundation laid in last year's inaugural edition, the ESG 2024 Report aligns the scope of ESG disclosures with the Global Reporting Initiative (GRI) and the United Nations Sustainable Development Goals (SDGs), as well as the United Nations Global Compact (UNGC) and Swiss Code of Obligations. The Group also reaffirmed its materiality matrix, helping prioritize issues most relevant to stakeholders and business impact.
Omar El Hamamsy, Orascom Development Group CEO, stated, 'Championing communities while fostering environments where residents thrive, and local economies prosper are core to how we develop our towns and engage with our stakeholders. Our ESG 2024 Report reflects our ongoing commitment to environmental responsibility, social inclusion, and transparent governance. Throughout 2024, we were guided by our principles in interacting with our colleagues, suppliers, and partners – strengthening our reputation as a trusted industry leader in placemaking. This year's ESG report marks another step in our journey as we deepen our efforts to advance Orascom Development as a sustainable, multi-national developer of prime destinations.'
Highlighting environmental impact, the Group recognizes the importance of protecting the planet's natural resources, reducing carbon emissions and developing sustainable, future-ready communities through various initiatives that harness the diverse local capacities across its destinations. In Montenegro, for instance, Orascom Development achieved more than 85% waste separation rate for The Chedi Luštica Bay through waste management efforts such as repurposing food waste for animal feed and composting, collecting glass and paper waste, and using oil for biofuel production. In Oman, Orascom Development planted over 100,000 trees in nurseries, supporting the country's National Initiative, beautifying landscapes and reducing carbon emissions. The Group is also invested in optimizing energy management systems to transition to renewable energy sources such as solar, wind, and green electricity tariffs. In West Carclaze Garden Village, UK, the developer's homes are considered top performers in England and Wales, ranking in the top 0.3% of nearly 27 million homes, with its highest-performing homes among the top few hundred in the country in 2024.
Orascom Development's social responsibility efforts prioritize empowering talent and creating shared value for all stakeholders, with the aim of promoting positive socio-economic outcomes. In 2024, the Group strengthened its vocational partnerships with local entities to support the development of future talent and improve employability among key groups. In Dhofar, home to the developer's Hawana Salalah destination, a partnership with INJAZ Oman enabled over 1,500 students to gain essential skills in financial literacy, entrepreneurship, and career readiness. Meanwhile, in El Gouna, initiatives have focused on upgrading staff facilities, improving social insurance grades for all employees, and expanding medical coverage. By prioritizing wellbeing, Orascom Development ensures creating a workplace where employees feel valued, supported, and empowered to succeed.
Orascom Development is also committed to ethical business practices, transparency, and accountability. The Group's long-term approach to development is guided by its responsibility to create sustainable, vibrant communities that play a role in enriching lives, strengthening economies and protecting the environment for future generations. By integrating ESG into its growth strategy, they are shaping a sustainable future where communities thrive, businesses prosper, and the environment is respected.
For more information and to access the full ESG 2024 Report, please visit the Sustainability page at OrascomDevelopment.com.
About Orascom Development
Orascom Development Holding is a leading international developer specializing in vibrant, integrated communities in Europe, the Middle East, and North Africa. For more than 35 years, Orascom Development has been a pioneer in creating destinations where people are inspired to live, work, and play with passion and purpose.
From El Gouna's stunning Egyptian coastal town by the Red Sea to Andermatt Swiss Alps' breath-taking, year-round mountain destination, each master-planned community is a testament to Orascom Development's commitment to place-making at its finest. The integrated towns harmoniously combine residential areas with private villas and apartments, hotels, and award-winning leisure and commercial amenities – including golf courses, marinas, sports facilities, retail shops and restaurants.
Orascom Development owns a land bank of more than 100 million square meters with nearly 20% developed into thriving communities in Egypt (El Gouna, Makadi Heights, O West, Taba Heights, and Byoum), in the GCC (The Cove in the UAE and Jebel Sifah and Hawana Salalah in Oman), and in Europe (Andermatt Swiss Alps in Switzerland, Luštica Bay in Montenegro and West Carclaze Garden Village in the UK). Orascom Development's hospitality portfolio includes 33 premium and luxury hotels with more than 7,000 rooms across Europe, the Middle East, and North Africa. ODH shares are listed on the SIX Swiss Exchange.
For more information, please visit https://www.orascomdh.com/.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Gulf Today
2 days ago
- Gulf Today
Deal to boost financing for future green infrastructure projects in UAE
Emirates NBD (ENBD) has partnered with Siemens to announce an innovative finance and resourcing agreement aimed at accelerating the funding of future green infrastructure projects in the UAE. The agreement is the culmination of an extensive and strategic collaboration that synergises technology, sustainability, and finance, and is fully aligned with the UAE's Net Zero by 2050 Strategic Initiative. Emirates NBD was approached by Siemens to develop and design the administrative, technical and structural aspects of the agreement. This collaboration resulted in the creation of a unique credit framework, complemented by an innovative suite of financing tools. These resources will support green infrastructure projects from installation through their entire lifecycle, including decarbonisation efforts. Ahmed Al Qassim, Group Head of Wholesale Banking at Emirates NBD, said, 'Emirates NBD's role in developing this expansive agreement with Siemens highlights our commitment to helping the UAE reach its sustainability and decarbonisation ambitions. It reinforces our goal to expand important working relationships with multinational conglomerates that share our ESG vision and are eager to establish new opportunities for growth within the fields of energy efficiency and sustainable technologies.' Helmut von Struve, CEO of Siemens in the UAE, said, 'Decarbonising infrastructure is a critical part of achieving the energy transition. The technologies required to accelerate energy efficiency progress are available today, but implementation needs to speed up to reach global goals.' At the end of last month, Al Fanar Gas Group, the energy arm of EHC Investment, has signed a strategic Memorandum of Understanding (MoU) with Siemens Energy, to jointly advance decarbonisation and clean energy innovation across the UAE. The agreement, signed on the sidelines of the World Utilities Congress 2025 in Abu Dhabi, supports the UAE Net Zero 2050 Strategy. The two companies will co-develop clean energy solutions that integrate advanced digital technologies into energy and industrial infrastructure, with a focus on areas such as hydrogen and Power-to-X, flare gas management, and port and vessel electrification. These efforts will be backed by rigorous feasibility studies to identify scalable solutions that can be seamlessly integrated into existing energy networks. The collaboration will also leverage Siemens Energy's global expertise in digitalizsation to introduce intelligent systems that optimise energy consumption, monitor emissions, and streamline operations - accelerating the energy transition in a practical and measurable way. Khaled Ben Said, CEO of Al Fanar Gas Group, commented, 'This partnership is not just about technology - it's about responsibility. As a UAE company, we see it as our duty to help shape an energy future that reflects the values and ambitions of our leadership.' 'Working with Siemens Energy allows us to pair local insight with global innovation to address the region's most pressing energy challenges. This MoU is a commitment to actionable progress - not in the distant future but starting now.' Khalid Bin Hadi, Managing Director for the UAE, Siemens Energy, said, 'The MoU reflects our commitment to working with regional partners to explore practical pathways towards decarbonisation. We look forward to collaborating with Al Fanar Gas Group to identify solutions that are both scalable and aligned with the UAE's long-term sustainability objectives.' Earlier Emirates NBD, a leading banking group in the Menat (Middle East, North Africa and Türkiye) region, has partnered with Sidara, a global collaborative of specialist architecture, engineering and consulting brands, to arrange a $50 million Sustainability Linked Loan (SLL). Aligning Sidara's financial strategy with its sustainability objectives, this strategic move marks Sidara's first SLL and positions the company as one of the first movers to enter the green finance market in the region. The new loan structure ties financial incentives to Sidara's sustainability performance, encouraging the company to adopt more responsible and more sustainable operational practices. The proceeds of the loan will fund Sidara's working capital requirements and will prominently include allocations dedicated to supporting Sidara's transition towards net zero operations, in line with its global commitment to the World Green Building Council's Net Zero Buildings Commitment as well as the UAE Pledge for Net Zero. Pri McNair, Group Co-Head of Coverage at Emirates NBD, commented, 'By supporting Sidara in transitioning their regional operations and service offerings towards greater environmental sustainability, Emirates NBD is once again showing that it is at the forefront of driving significant change, both in propelling clients' growth towards more environmentally friendly financial practices, and also in shaping a more sustainable world. WAM
Gulf Business
2 days ago
- Gulf Business
How to build a workforce to deliver on the GCC's ESG ambitions
Image: Supplied The GCC is making bold strides toward a more sustainable future, with companies increasingly prioritising environmental, social, and governance (ESG) factors. Yet a critical challenge looms: the widening green skills gap threatens to slow momentum and hinder the region's ambitious goals. Organisations across the region are recognising the need to scale their ESG capabilities, not only to build long-term resilience, but also to drive value creation. At the same time, governments are rolling out national net-zero agendas and introducing new regulatory frameworks to accelerate ESG adoption. There is a growing consensus that strong ESG performance is essential for organisations to stay competitive and appealing to investors, customers, and other key stakeholders. As economic diversification and decarbonisation efforts take root, GCC countries are embracing advances in AI and automation to fast-track their green transition. This shift has driven a surge in demand for sustainability and ESG professionals, particularly those with expertise in climate risk management, sustainable finance, and corporate governance. ESG outlook: Green job growth is outstripping workforce readiness However, talent pipelines are struggling to keep pace. Green job growth is outstripping workforce readiness, with a shortage of skills threatening to stall progress. In fact, The Green skills are not only in demand — they're also proving to be a hiring advantage. According to LinkedIn, candidates with green skills or titles are Despite this, a clear generational gap is emerging: while 61 per cent of Gen Z workers globally aspire to work in a green job within the next five years, only 1 in 20 currently possess green skills, and less than half have access to relevant training programs. The shortage spans both technical and soft skills, from renewable energy engineering, carbon accounting, and environmental management to collaboration, communication, and critical thinking. Companies increasingly view green capabilities not as a 'nice to have' but as business-critical for attracting investment, meeting regulatory requirements, and remaining competitive in a fast-evolving global economy. Another Addressing this challenge will require a coordinated effort across governments, businesses, and educational institutions. Encouragingly, GCC countries are stepping up, launching upskilling programs and forging partnerships with global organizations to develop the workforce of the future. Initiatives like Specific national initiatives are helping drive this momentum. The Similarly, Vital to learn news tools to thrive With Online learning platforms offer a scalable, accessible solution. Through flexible training pathways, they can deliver targeted skill development in areas such as climate risk, renewable energy, and sustainable finance, empowering individuals and organisations to lead the green transition. Educational institutions also play a vital role. By integrating ESG into core curricula — embedding CSR into marketing and finance programs, for instance—and offering specialized training aligned to regional needs, they can prepare learners to meet the GCC's unique sustainability challenges. To realise its ESG ambitions, the GCC must close the green skills gap. Government policies are laying a strong foundation, but businesses and educators must move in lockstep to equip the workforce with the practical, job-ready skills needed to implement sustainability at scale. This will be key to unlocking long-term growth, innovation, and resilience across the region. The writer is Coursera's GM for the Middle East and Africa.
Hi Dubai
2 days ago
- Hi Dubai
Emirates NBD Partners with Siemens to Boost Green Infrastructure Funding in UAE
Emirates NBD has joined forces with Siemens to launch a pioneering finance and resourcing agreement aimed at accelerating green infrastructure development across the UAE. The agreement marks the outcome of a strategic collaboration that blends finance, technology, and sustainability in support of the UAE's Net Zero by 2050 Strategic Initiative. It introduces a unique credit framework and a tailored suite of financing tools designed to fund green projects from initial installation through their full lifecycle, including decarbonisation efforts. Siemens approached Emirates NBD to help design the structural, technical, and administrative backbone of the agreement. The result is a forward-looking financial model that enables greater access to capital for sustainable infrastructure. Ahmed Al Qassim, Group Head of Wholesale Banking at Emirates NBD, said the deal reflects the bank's commitment to supporting the UAE's climate ambitions and deepening partnerships with global firms that share its ESG values. 'By working closely with Siemens, we're unlocking new opportunities in energy efficiency and sustainable technologies,' he said. Helmut von Struve, CEO of Siemens in the UAE, emphasised the importance of speeding up implementation of existing energy-efficient technologies to meet global climate targets. 'Decarbonising infrastructure is essential to the energy transition,' he noted. The partnership reinforces both organisations' roles in driving sustainable innovation and creating scalable solutions for the UAE's evolving green economy. News Source: Emirates News Agency
