Orascom Development Egypt (ODE) achieved a landmark year in 2023, posting net profits of EGP 3.10 billion—a 63.5% year-on-year jump. This growth was fueled by record-breaking real estate sales of EGP 19.40 billion and robust recurring income streams, despite economic headwinds. Total revenue surged 49.2% to EGP 15.30 billion, with EBITDA climbing 47.1% to EGP 5.80 billion (37.6% margin). Hospitality revenue skyrocketed 94.5% to EGP 3 billion, while real estate cash collections rose 81.2% to EGP 10.10 billion. Q4 2023 alone saw net profits explode by 187.8% to EGP 1.10 billion, with real estate sales up 65.9%. The company credited its diversified model for weathering inflation, geopolitical tensions, and EGP devaluation.