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In a transfer signaling a big shift in the direction of diversifying its tourism choices, Orascom Growth Egypt (ODE), a key subsidiary of Orascom Growth Holding (ODH), owned by Egyptian billionaire Samih Sawiris, has unveiled plans to assemble Africa’s largest skate park close to the bustling Purple Sea resort city of El Gouna.
Partnering with Heazy Skate Park, a famend designer and builder within the skate park trade, this formidable challenge underscores El Gouna’s dedication to broadening its enchantment past standard tourism experiences and in the direction of nurturing a dynamic sporting tradition.
El Gouna’s transformation: Africa’s largest skate park set to redefine resort locations
The partnership with Heazy Skate Park marks a big transfer in turning the resort right into a hotspot for sports activities, tradition, and humanities in Africa. By constructing the continent’s greatest skate park, we’re embracing innovation and inclusivity, consistent with the Ministry of Youth and Sports activities’ intention to encourage lively residing and contain younger individuals.
Development of Africa’s largest skate park is slated to start later this 12 months, with the grand opening scheduled for 2025. As El Gouna prepares to welcome guests from across the globe, the challenge stands as a testomony to the area’s unwavering dedication to progress and reinvention.
ODE’s fiscal triumph: $63.5 million revenue surpasses expectations amidst market challenges
ODE boasts a storied historical past inside Egypt’s actual property sector. Established in 2008 by the merger of Orascom Tasks for Touristic Growth and Orascom Accommodations and Growth, the corporate has been instrumental in shaping the nation’s tourism panorama.
On the finish of its 2023 fiscal 12 months, ODE disclosed a internet revenue of $63.52 million in its monetary outcomes. This marks a sturdy 63.5% surge from the previous 12 months, propelled by exceptional gross sales reaching EGP19.4 billion ($397.55 million). Regardless of difficult market dynamics, the true property chief demonstrated resilience and adaptableness, reaching this notable achievement.
Regardless of Samih Sawiris’ determination to step down as chairman of ODH, the group continues to thrive beneath new management. Sawiris, a distinguished determine amongst Egypt’s wealthiest people, leaves behind a legacy of innovation and resilience that has propelled ODE and ODH to new heights.
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