OUD launches EGP 1.6 bn real estate development in Sharm El Sheikh

The Orientals Company Urban Development (OUD) launched a new EGP 1.6 bn residential and touristic project in Nabq Bay Sharm El Sheikh, founder Mohamed Khamis said in statements carried by Al Shorouk. The project by the Oriental Weavers Subsidiary includes 1,850 homes, 3 hotels, recreational and commercial spaces and it is built around artificial lagoons.