Latest news with #OmarElHamamsy
Gulf Insider
12-06-2025
- Business
- Gulf Insider
El Gouna Unveils Newest Red Sea Addresses During UAE Showcase
El Gouna, the striking coastal town on Egypt's Red Sea, took centre stage in the UAE during a special showcase by Orascom Development. The showcase, part of the 4th Annual Private Wealth Middle East Forum, introduced two of El Gouna's latest waterfront real estate projects: Fanadir Shores and North Bay. Designed to offer a laid-back coastal lifestyle, the projects were unveiled at an evening reception where regional investors, partners, and industry leaders had gathered. Fanadir Shores features 57 residential units along a private lagoon with direct access to the Red Sea, while North Bay offers larger standalone villas and penthouses set around open lagoons and boat docks. Both projects are scheduled for delivery within two years. El Gouna, Egypt (Supplied) El Gouna, Egypt (Supplied) Fanadir Shores is located beside Fanadir Marina and La Maison Bleue Boutique Hotel. The development includes seven low-rise buildings offering 2- to 4-bedroom apartments (averaging 220 sqm), each designed to maximise sea views and promote sustainable living. La Maison Bleue Boutique Hotel (Supplied) Fanadir Marina (Supplied) North Bay's newest phase, Highland , features villas, duplexes, and penthouses with architectural design by Victor Legorreta. Prices range from $1.8M to $3.2M depending on unit size. A central feature of this neighbourhood is The Pavilion , a public space designed to host community events and social gatherings. El Gouna delivered 371 units in 2024 and is on track to deliver 410 units in 2025. In the same year, Orascom Development recorded real estate sales of USD 905 million, up 16.1% from the previous year including USD 274 million from El Gouna alone, marking an 11.6% year-on-year rise. With over 35 years of experience developing destinations across Europe, the Middle East, and North Africa, Orascom Development leveraged the UAE event to present its wider vision for placemaking. Attendees experienced El Gouna virtually through an immersive VR showcase. El Gouna – Red Sea Diving (Supplied) El Gouna, Egypt (Supplied) Omar El Hamamsy, Group CEO, commented: 'As regional investors increasingly seek diversification opportunities with both lifestyle attributes and strong returns, El Gouna by Orascom Development offers a compelling blueprint for the future of destination investment – with its multicultural community of residents from more than 50 nationalities, a USD-denominated investment scheme that provides currency stability, and a comprehensive ecosystem of amenities including four world-class marinas, international education and healthcare facilities.' Mohamed Amer, CEO of El Gouna by Orascom Development, added: 'There's been a surge of interest in integrated coastal living, and we're pleased to see the UAE community embracing the lifestyle concept we've helped define over decades. Fanadir Shores and North Bay mark the next chapter in [Orascom Development's] legacy, bringing our distinct blend of lifestyle, sustainability, and unique architecture to live by the beautiful Red Sea.'
Zawya
03-06-2025
- Business
- Zawya
Orascom Development Egypt announces changes in its executive board members
Cairo – Orascom Development Egypt (ODE) announces that Mohamed Amer, the current CEO of El Gouna, has joined ODE's board of directors as an executive board member. Additionally, the Board appointed Ashraf Nessim as Managing Director for Finance and Operations and Mohamed Amer as Managing Director for Commercial Activities. The board has also accepted the resignation of Omar El Hamamsy from his position as Managing Director and Chief Executive Officer. Omar El Hamamsy will transition to serve as the Advisor to the Chairman of Orascom Development Holding AG (ODH) in Switzerland, leading strategic projects alongside the Chairman through March 2026. The Board of Directors of ODE, in conjunction with Naguib S. Sawiris, the Chairman of Orascom Development Holding AG (ODH), the major shareholder of ODE, would like to take this opportunity to extend their sincere gratitude and appreciation to Omar for his unwavering dedication and exemplary leadership over the past five years. During his tenure, the company has undergone remarkable growth and institutionalization, successfully navigating the complex landscape of the real estate and hospitality sectors. Ashraf Nessim has served as the Group Chief Financial Officer of Orascom Development Holding (ODH) since 2017 and as the Chief Financial Officer of its largest Egyptian subsidiary, Orascom Development Egypt (ODE), since 2012. He oversees financial strategies and is part of the Executive Management team. With over 25 years of experience in finance, infrastructure, and hospitality, Nessim previously served as Chief Financial Officer at Beltone Private Equity and Mobiserve. He also established operations for Raya Distribution in Algeria and managed Nokia and Samsung stores in Egypt from 2004 to 2006. Nessim holds a bachelor's degree in mechanical engineering and earned his CFA designation in 2004. Mohamed Amer joined Orascom Development as the CEO of El Gouna in May 2022. Prior to this role, he spent 22 years at Xerox, most recently serving as VP and Regional General Manager for the Middle East and Africa, based in the UK. Before that, he was responsible for managing the region's operations, business growth, and profitability, as well as overall strategy development and execution across all 85 countries. Prior to the aforementioned roles, Amer was Regional General Manager for Xerox Distributor Group in Miami, Florida, United States, and was responsible for 34 countries in the Caribbean, Central America, and South America. Amer holds a bachelor's degree in business administration from Alexandria University in Egypt. About Orascom Development Egypt (ODE): Orascom Development Egypt is the largest subsidiary under Orascom Development Holding (ODH), a leading international developer specializing in vibrant, integrated communities in Europe, the Middle East, and North Africa. For more than 30 years, Orascom Development Holding 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 O West's modern and integrated town living in the heart of West Cairo's Sixth of October, each master-planned community is a testament to ODE's commitment to placemaking at its finest. Other integrated towns in Egypt include Makadi Heights near the Red Sea, Taba Heights on the Sinai Peninsula, and Byoum in Fayoum. ODE owns a land bank of more than 50 million square meters, with nearly 28% developed or under development. ODE's hospitality portfolio includes 24 premium and luxury hotels with more than 4,900 rooms in Egypt. ODE shares are listed on the Egyptian Stock Exchange (EGX).
Gulf News
05-05-2025
- Business
- Gulf News
Steven Bartlett inspires entrepreneurs at NEXT by O West event in Cairo
The Middle East is experiencing a business revolution, with start-ups in the region raising a record-breaking $2.3 billion (Dh8.4 billion) in investments in 2024 alone. This surge is driven by bold entrepreneurs who are pushing boundaries and transforming industries, but true success goes beyond just capital—it's about cultivating the right mindset, developing resilience, and committing to continuous growth in an ever-evolving landscape. Driven by a shared vision of empowering the next generation of leaders, O West, the fully integrated town by Orascom Development in West Cairo, partnered with MO4 Network, one of the region's most impactful digital media companies with a portfolio of 14 leading publications, to bring NEXT by O West to life. Steven Bartlett, one of the world's most influential entrepreneurs and the host of one of the biggest business podcasts, The Diary of a CEO, headlined the event, reflecting O West and MO4 Network's commitment to storytelling as a driving force for success and transformation. His journey of resilience and innovation aligned perfectly with their mission to inspire and empower future business leaders. Held at the O Business District with more than 100 innovators in attendance, NEXT by O West provided aspiring entrepreneurs with the resources, networks, and insights needed to fuel their journeys. O West, developed by Orascom Development, is an integrated town that seamlessly combines business, leisure, and living. As part of Orascom Development's expansive 100-million-square-metre portfolio across Europe, the Middle East, and North Africa, O West features a dedicated business hub, the O Business District (OBD), which served as the perfect venue for NEXT by O West. Reflecting on O West's vision, Omar El Hamamsy, Group CEO of Orascom Development, said, 'At Orascom Development, our strategy is built on creating integrated communities where innovation, opportunity, and growth are at the heart of everything we do. This vision extends beyond just providing spaces to live and work, it's about cultivating environments that empower individuals and businesses to reach their full potential.' He added: 'O West is a great example of this approach; it's a thriving hub where entrepreneurs, leaders, and creatives come together to shape the future. Hosting events like NEXT by O West with global leaders like Steven Bartlett is part of our broader commitment to equipping the next generation with the inspiration, knowledge, and connections they need to drive change and lead in the evolving business landscape.' Reinforcing the impact of collaboration and storytelling, Amy Mowafi, Co-founder and CEO of MO4 Network, said, 'Our mission is to drive change and create impact through meaningful stories about the people, places, and movements shaping the Middle East today. 'NEXT is an event experience that reflects our belief in the power of connection and the possibilities that arise when extraordinary minds are brought together buoyed by inspiring stories. They say to predict the future you have to create it, so we're hoping that together, we can discover what's NEXT.' At the core of this ecosystem lies O Business District (OBD), O West's dedicated business hub designed to support entrepreneurs, professionals, and enterprises with modern infrastructure. Since 2019, OBD has established itself as a business destination, offering 29,046 square metres of office space and 707 square metres of retail, attracting a growing community of forward-thinking professionals. Building on this foundation, Phase 2 expands OBD's innovative business environment with an additional 25,920 square metres, including 4,674 square metres dedicated to retail and co-working spaces. A key highlight is the vibrant new promenade, designed to foster connectivity and engagement through pedestrian-friendly walkways, lush green spaces, and inviting seating areas. This seamless blend of functionality and creativity ensures an inspiring atmosphere for both work and leisure. Through initiatives that combine modern workspaces, strategic partnerships, and a focus on talent development, O West is not just building a community, it is creating a hub for the next generation of trailblazers. With the continued growth of the O Business District and the expansion of its vision, O West is poised to become the driving force behind the future of business and innovation in the MENA region.
Zawya
22-04-2025
- Business
- Zawya
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 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
