Orascom Development Egypt (ODE), a subsidiary of Orascom Development Holding (ODH) and part of Egyptian billionaire Samih Sawiris’ business empire, delivered a strong top-line performance in the first half of 2026. The company’s profit climbed by nearly 5% to EGP3.17 billion ($63.07 million), with a significant surge in revenue and recurring income.

The company’s latest six-month financial statements show that the increase was driven primarily by higher real estate and hotel revenues, while profit after tax increased moderately despite higher finance costs, administrative expenses and current taxes.

Revenue growth and profitability
The figure, revealed in the company’s recent half-year results, shows that ODE’s revenue rose 28.52% year-over-year from the prior half-year’s EGP11.53 billion ($237.9 million) to EGP14.82 billion ($294.54 million) in H1 2026, supported by stronger real estate, hospitality, land and town management revenues.

Net profit surged 4.54% to EGP3.17 billion ($63.07 million), up from EGP3.04 billion ($60.37 million), driven by improved margins, operational efficiency, and foreign currency gains after last year’s devaluation impact. Gross profit rose 4.5% to EGP4.5 billion ($89.5 million), compared with EGP4.31 billion ($85.6 million) a year earlier. However, profit before tax declined 3.2% to EGP4.24 billion ($84.3 million), from EGP4.38 billion ($87.0 million).

The profit performance came despite higher general and administrative expenses, which increased 48.4% to EGP511.2 million ($10.2 million), while interest and finance expenses climbed 11.1% to EGP1.01 billion ($20.2 million). Investment income also increased 42.6% to EGP862.2 million ($17.1 million), from EGP604.6 million ($12.0 million) in H1 2025.

Real estate and hospitality drive growth

The real estate segment remained ODE’s largest revenue contributor, generating EGP8.84 billion ($175.7 million) in H1 2026, up 64.0% from EGP5.39 billion ($107.2 million) in H1 2025.

Hotel revenue also increased 21.0% to EGP3.29 billion ($65.3 million), compared with EGP2.72 billion ($54.0 million) a year earlier. ODE attributed the growth to its hotels maintaining occupancy performance while increasing room rates. Town management revenue rose 39.1% to EGP1.10 billion ($21.9 million), from EGP792.4 million ($15.8 million), while other operations generated EGP429.8 million ($8.5 million), up from EGP350.1 million ($7.0 million).

Land revenue increased 18.6% to EGP1.84 billion ($36.6 million) from EGP1.55 billion ($30.9 million). The company said the land segment reflected the sale of a 26,848-square-meter plot in El Gouna during the first quarter of 2026, compared with a larger 110,000-square-meter plot sold in El Gouna during the comparable period of 2025.

Higher investment income offsets weaker other gains

ODE’s investment income increased to EGP862.2 million ($17.1 million) in H1 2026 from EGP604.6 million ($12.0 million), primarily due to higher interest income on trade receivables. However, other gains and losses declined sharply to a net gain of EGP322.8 million ($6.4 million), compared with EGP672.0 million ($13.4 million) in H1 2025.

The company said the decline was mainly attributable to a reduction in foreign-exchange gains. Foreign-currency exchange gains fell by EGP271 million, compared with a gain of EGP750 million in the first half of 2025.

Income tax recognized in profit or loss also fell to EGP1.06 billion ($21.2 million) from EGP1.34 billion ($26.7 million), although current tax expense increased to EGP1.05 billion ($20.8 million) from EGP488.5 million ($9.7 million).

ODE total assets continue to expand

ODE, part of Samih Sawiris’ business empire, has become one of Egypt’s leading property developers, with projects ranging from landmark resorts to fully integrated communities.

ODE’s consolidated total assets stood at EGP64.64 billion ($1.29 billion) at June 30, 2026, up from EGP59.02 billion ($1.17 billion) at the end of 2025. Segment assets before elimination increased to EGP71.60 billion ($1.42 billion) from EGP64.88 billion ($1.29 billion), with real estate assets accounting for EGP40.72 billion ($809.6 million).

Hotel assets increased to EGP10.58 billion ($210.3 million), while land assets rose to EGP8.39 billion ($166.8 million). Town management assets also expanded to EGP6.90 billion ($137.2 million), from EGP4.55 billion ($90.4 million) at the end of 2025.

At its June 8, 2026, Ordinary General Assembly meeting, ODE approved an increase in issued capital of EGP2.52 billion ($50.1 million), funded from retained earnings for the financial year ended December 31, 2025. The company did not declare a dividend for the period from January 1 to June 30, 2026.