Orascom Development Egypt has launched its latest residential project, “Nuba”, in El Gouna, featuring 97 units and targeting total sales of EGP 3bn. Speaking during a roundtable discussion, Mohamed Amer said the project is witnessing strong demand, driven by increasing interest in El Gouna as a residential destination, supported by ongoing development and enhanced infrastructure. Amer added that “Nuba” spans more than 30,000 square metres and occupies a prime location within El Gouna, highlighting that the project is designed in line with global sustainability standards, reflecting the company’s long-term vision. He also revealed plans to launch additional projects in El Gouna in 2026. On the tourism front, Amer noted that geopolitical tensions—including the Iranian-US conflict—had a temporary impact on hotel occupancy rates during March and April.

Source: Daily News Egypt March 30, 2026 20:20 UTC