El Gouna property sales up almost 25% in 2Q2020

Property sales in El Gouna have increased by 22% y-o-y to hit EGP 891.5 mn in the second quarter of 2020, Orascom Development Egypt (ODE) said in a press release (pdf). Contracts and reservations reached EGP 891.5 mn during the quarter, up from EGP 729.9 mn last year. The pace of construction in the resort town will be sped up by deploying 100% of the company’s workforce at the sites, the developer said. Hotels in the resort town have also received safety, sanitation and hygiene audit confirmation from Germany-based TÜV Nord.