{"id":568018,"date":"2020-12-15T04:09:29","date_gmt":"2020-12-15T04:09:29","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2020\/12\/15\/odh-offloading-affordable-housing-arm\/"},"modified":"2020-12-15T04:09:29","modified_gmt":"2020-12-15T04:09:29","slug":"odh-offloading-affordable-housing-arm","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2020\/12\/15\/odh-offloading-affordable-housing-arm\/","title":{"rendered":"ODH offloading affordable housing arm"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-04\"><\/a> <strong>Orascom Development Egypt\u2019s (ODH) board has approved plans to sell the <\/strong><strong>company\u2019s 35% stake in affordable homes builder New City Housing and Development<\/strong> (previously Orascom Housing Communities or OHC), according to<a href=\"https:\/\/ent.news\/2020\/12\/Orascom-Development-filing-14-12-2020.pdf\">a regulatory filing (pdf)<\/a>. The stake is valued at EGP 128.6 mn, the company said without disclosing the name of the potential buyer. The sale would come as part of a strategy by ODH to narrow its focus on core businesses, which centers on high-end real estate including El Gouna and O West.<\/p>\n<p><strong>Background: <\/strong>An unnamed UK fund was reported to be the buyer, sources speaking to Al Shorouk<a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/31a2d35c-fb24-4bd8-ada1-9931d076527f\">said last month<\/a>. The fund could purchase both ODH\u2019s share and another 55% stake owned personally by ODH CEO Samih Sawiris, The remaining shares will be retained by OHC\u2019s foreign owners, US company<a href=\"https:\/\/www.blueridgecompanies.com\/\">Blue Ridge<\/a> and PE firm<a href=\"https:\/\/www.equityinternational.com\/\">Equity International<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Orascom Development Egypt\u2019s (ODH) board has approved plans to sell the company\u2019s 35% stake in affordable homes builder New City Housing and Development (previously Orascom Housing Communities or OHC), according toa regulatory filing (pdf). The stake is valued at EGP 128.6 mn, the company said without disclosing the name of the potential buyer. The sale [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[10211],"tags":[72,164,7128,256,4296,83,1844],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-568018","post","type-post","status-publish","format-standard","hentry","category-equities","tag-enterpriseam","tag-equities","tag-ma-watch","tag-orascom-development-egypt","tag-orascom-housing-communities","tag-real-estate","tag-samih-sawiris","wpautop","entry"],"acf":{"mongo_id":"81a0379e-c7c6-40d7-a88b-d213ae9b02c5","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[568008],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>ODH offloading affordable housing arm - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/15\/odh-offloading-affordable-housing-arm\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ODH offloading affordable housing arm\" \/>\n<meta property=\"og:description\" content=\"Orascom Development Egypt\u2019s (ODH) board has approved plans to sell the company\u2019s 35% stake in affordable homes builder New City Housing and Development (previously Orascom Housing Communities or OHC), according toa regulatory filing (pdf). The stake is valued at EGP 128.6 mn, the company said without disclosing the name of the potential buyer. The sale [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/15\/odh-offloading-affordable-housing-arm\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2020-12-15T04:09:29+00:00\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/15\/odh-offloading-affordable-housing-arm\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/15\/odh-offloading-affordable-housing-arm\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"ODH offloading affordable housing arm\",\"datePublished\":\"2020-12-15T04:09:29+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/15\/odh-offloading-affordable-housing-arm\/\"},\"wordCount\":142,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"EnterpriseAM\",\"equities\",\"M&amp;A Watch\",\"Orascom Development Egypt\",\"Orascom Housing Communities\",\"real estate\",\"Samih Sawiris\"],\"articleSection\":[\"EQUITIES\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/15\/odh-offloading-affordable-housing-arm\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/15\/odh-offloading-affordable-housing-arm\/\",\"name\":\"ODH offloading affordable housing arm - EnterpriseAM Egypt\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\"},\"datePublished\":\"2020-12-15T04:09:29+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/15\/odh-offloading-affordable-housing-arm\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/15\/odh-offloading-affordable-housing-arm\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/12\/15\/odh-offloading-affordable-housing-arm\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/enterpriseam.com\/egypt\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"ODH offloading affordable housing arm\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/\",\"name\":\"EnterpriseAM\",\"description\":\"The State of the Nation\",\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/enterpriseam.com\/egypt\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\",\"name\":\"EnterpriseAM\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ent.news\/internal\/240894.svg\",\"contentUrl\":\"https:\/\/ent.news\/internal\/240894.svg\",\"caption\":\"EnterpriseAM\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\",\"name\":\"enterpriseam admin\",\"sameAs\":[\"http:\/\/enterpriseam.testing.projectsarea.com\"],\"url\":\"https:\/\/enterpriseam.com\/egypt\/author\/enterpriseam\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"ODH offloading affordable housing arm - EnterpriseAM Egypt","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/enterpriseam.com\/egypt\/2020\/12\/15\/odh-offloading-affordable-housing-arm\/","og_locale":"en_US","og_type":"article","og_title":"ODH offloading affordable housing arm","og_description":"Orascom Development Egypt\u2019s (ODH) board has approved plans to sell the company\u2019s 35% stake in affordable homes builder New City Housing and Development (previously Orascom Housing Communities or OHC), according toa regulatory filing (pdf). 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It offered no details on the expected size of the transaction or the identity of the potential buyer, though reports circulating\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":568059,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/12\/16\/odh-sells-affordable-housing-arm\/","url_meta":{"origin":568018,"position":1},"title":"ODH sells affordable housing arm","author":"enterpriseam admin","date":"16 December 2020","format":false,"excerpt":"An unnamed UK-based fund has acquired 100% of New City Housing and Development for EGP 365 mn, Al Mal reports citing unnamed sources familiar with the agreement. The fund, which is reportedly owned by an unnamed Egyptian businessman, purchased a 35.2% stake previously held by Samih Sawiris\u2019 Orascom Development Holding\u2026","rel":"","context":"In &quot;M&amp;A WATCH&quot;","block_context":{"text":"M&amp;A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/12\/289.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":568553,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/11\/15\/samih-sawiris-to-offload-shares-in-orascom-housing-communities-to-uk-fund\/","url_meta":{"origin":568018,"position":2},"title":"Samih Sawiris to offload shares in Orascom Housing Communities to UK fund","author":"enterpriseam admin","date":"15 November 2020","format":false,"excerpt":"M&A WATCH- Samih Sawiris will offload his shares in affordable housing player Orascom Housing Communities to an unnamed British investment fund, Al Shorouk reports, citing unnamed sources familiar with the matter. Sawiris will reportedly sell 85% of the company\u2019s shares, including his personal 55% stake and the 30% held by\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":576371,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/11\/22\/matouk-bassiouny-hennawy-to-advise-on-odhs-sale-of-orascom-housing-communities\/","url_meta":{"origin":568018,"position":3},"title":"Matouk Bassiouny &#038; Hennawy to advise on ODH\u2019s sale of Orascom Housing Communities","author":"enterpriseam admin","date":"22 November 2020","format":false,"excerpt":"APPOINTMENTS- Law firm Matouk Bassiouny & Hennawy has been appointed to advise Orascom Development Holding (ODH) on the sale of its stake in Orascom Housing Communities, Al Shorouk reports, citing unnamed sources familiar with the matter. ODH announced last week that it is seeking to sell some or all of\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":599808,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/01\/10\/odh-enters-agreement-with-chairman-samih-sawiris-for-stake-purchase-in-asa\/","url_meta":{"origin":568018,"position":4},"title":"ODH enters agreement with Chairman Samih Sawiris for stake purchase in ASA","author":"enterpriseam admin","date":"10 January 2019","format":false,"excerpt":"Orascom Development Holding (ODH) has entered an agreement to purchase an additional 1% and one share of Andermatt Swiss Alps (ASA) from ODH Chairman Samih Sawiris at a total price of CHF 3.2 mn, according to a company press release. The transaction, which is conditional on Sawiris forgiving CHF 150\u2026","rel":"","context":"In &quot;Other Business News of Note&quot;","block_context":{"text":"Other Business News of Note","link":"https:\/\/enterpriseam.com\/egypt\/category\/other-business-news-of-note\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":553983,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/12\/15\/samih-sawiris-to-step-down-as-odh-chairman\/","url_meta":{"origin":568018,"position":5},"title":"Samih Sawiris to step down as ODH chairman","author":"enterpriseam admin","date":"15 December 2021","format":false,"excerpt":"Samih Sawiris is stepping down from his role as Orascom Development Holding (ODH) chairman and handing the torch to his son, Naguib Samih Sawiris (LinkedIn), ending a 30-year run at the company\u2019s helm, according to a report in Hapi Journal. ODH\u2019s board agreed to formally nominate Naguib as chairman at\u2026","rel":"","context":"In &quot;Moves&quot;","block_context":{"text":"Moves","link":"https:\/\/enterpriseam.com\/egypt\/category\/newsmakers\/moves\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/568018","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=568018"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/568018\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/568008"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=568018"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=568018"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=568018"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=568018"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=568018"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}