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Orascom unit to sell entire stake in Egyptian housing group


Orascom unit to sell entire stake in Egyptian housing group
CAIRO, December 15, 2020
Orascom Development Holding, a leading developer of integrated towns with a strong foothold in the Middle East region, said its Egyptian unit, Orascom Development Egypt (ODE) is set to sell its entire stake in New City Housing & Development (formerly Orascom Housing Communities) for CHF7.3 million ($8.2 million).
 
The ODE move to offload the New City Housing & Development stake comes in line with the company s non-core assets divestment strategy to optimise its portfolio and enable it to further prioritise and reinforce efforts in its core business areas.
 
New City Housing & Development is the first Egyptian company to focus on the development of high-quality affordable housing units within sustainable and fully integrated townships in Egypt.  ....

Al Qahirah , United Kingdom , Orascom Development Holding , Orascom Development Egypt , City Housing Development , Development Holding , Middle East , New City Housing , Orascom Housing Communities , City Housing , Qena Governorate , Upper Egypt , ஒன்றுபட்டது கிஂக்டம் , நகரம் வீட்டுவசதி வளர்ச்சி , வளர்ச்சி வைத்திருத்தல் , நடுத்தர கிழக்கு , புதியது நகரம் வீட்டுவசதி , நகரம் வீட்டுவசதி , மேல் எகிப்து ,