Omar El Hamamsy, Group CEO of Orascom Development, shares his insight on the strategic vision for building a better tomorrow
Taking One Step At A Time
Firstly, they see themselves as real estate developers and place makers. Over the past three decades, Orascom Development has had a proven track record of creating vibrant, integrated communities that cater to residents’ evolving needs and aspirations. Their new thought leadership initiative, Orascom Development Keys of Life, further grounds their commitment to sparking understanding and dialogue around important topics about the future of communities.
As a cornerstone of this new initiative, they worked with YouGov to survey over 3,600 people across the Middle East, North Africa, Europe, the United Kingdom, and the United States on their public perceptions of living environments. Their findings revealed that 76% of people feel their best in a place where they can ‘live, play and work’, underlining the importance of creating integrated communities. This is reflected in their design of projects with ample open spaces, green parks, and seamless connectivity, which their findings highlight as crucial aspects of people’s expectations in modern community living.
Orascom Development’s resilience is evident in its growth plans. With a land bank of more than 100 million square meters and over 40% of that land under development or already developed into thriving communities, they are driving their growth with a deep understanding of the real estate market trends in the GCC and the broader region. This approach has led to significant achievements, such as a 20% increase in contracted units to 2,115 units in 2023 compared to the previous year and CHF 704.2 million in real estate sales – a similar value to 2022, despite the challenges posed by the Egyptian Pound devaluation.
The Driving Force
The community design approach is built around purpose, connection and togetherness. Integrating towns that foster a sense of community is essential to their strategy. This philosophy can be traced back to the vision of their founder, Samih Sawiris, who 1989 set out to create an idyllic paradise on the shores of the Red Sea in Egypt that feels like a close-knit community of friends. Today, El Gouna is renowned for its luxurious marinas, picturesque beaches, exceptional dining options, diverse recreational activities and commitment to sustainability. El Gouna has become a prime example of world-class destination development, and its success has driven the expansion to 10 destinations in Egypt, Oman, Montenegro, Switzerland and the United Kingdom.
Their recent Orascom Development Keys of Life research confirms the importance of this approach, with 80% of respondents emphasizing the significance of having a strong sense of community in their lives. As placemakers, they see it as their responsibility to provide a wide range of amenities and activities and invest in the cultural elements and events vital for fostering community cohesion and individual wellbeing. For instance, the El Gouna Film Festival celebrates creative talent and supports the growth of the filmmaking industry in the region. Similarly, Hawana Salalah in Oman, the Sultanate’s largest integrated tourism complex, hosts the annual Khareef Salalah Festival to celebrate the awe-inspiring monsoon season.
For them, success is defined by the quality of life their destinations offer and the long-term value they create for their stakeholders.
Opportunities To Look Forward
The region is characterized by an intense desire among its residents for cohesive, supportive, interconnected communities. However, they recognize that more than simply putting up buildings is required. Many traditional cities and towns grapple with residents who need to be in the right place. Orascom Development Keys of Life research reveals that 43% of people think they are not living in their ideal location, and this sentiment is even more prevalent among young adults, who constitute the majority of the MENA population, with 58% expressing this view.
This gap highlights the necessity for communities that adapt to residents’ changing needs and aspirations, especially Millennials and Gen Zs. They are committed to listening to these audiences, understanding their evolving needs, and incorporating these insights into the design of their integrated towns and destinations, whether they are located in the MENA region or Europe. Their goal is to create environments where people feel truly at home.
Unlocking Challenges
They excel at creating an environment that attracts people from different countries to live in their towns. Embracing cultural differences enriches communities and contributes to their vibrancy and resilience—a sentiment echoed in their Orascom Development Keys of Life research, where 75% of people define community as ‘the combination of diverse cultures, backgrounds and experiences’.
They also recognize that creating inclusive environments begins with the design and planning process. Their master plan development takes a ‘designing with purpose’ approach that considers how the built environment can best accommodate and celebrate diverse cultural needs and preferences from the outset. This involves thoughtfully incorporating culturally rooted design elements and motifs into the architecture and aesthetics of the residential and commercial buildings, amenities and public spaces.
Engaging With Various Generations
Reconciling the requirements of different community generations is a complex challenge that requires a holistic and adaptive approach. The goal is to create multigenerational communities that cater to residents’ diverse needs and aspirations across all life stages.
They do this by offering a wide range of housing options – apartments, townhouses and private villas – that cater to different family sizes and lifestyles and by providing a mix of amenities and services that appeal to other age groups and community requirements – from child-friendly parks to senior wellness centres, sports facilities and coworking spaces. El Gouna, for example, has El Gouna Plus, their latest platform offering three convenient services: Design & Renovation, Property Management and Home Services, catering to their diverse homeowners.
It is also crucial to design flexible and adaptable public spaces that accommodate different uses and activities as the community’s needs evolve. Engaging with residents through participatory planning processes and community governance structures also helps ensure their voices are heard, and their needs are met. By taking a long-term, people-centric approach to community development, they work to create inclusive, resilient communities that are responsive to the changing needs of multiple generations.
The Sustainable Way!
Orascom Development has a standing invitation to our customers to discover ‘life as it should be’. Today, that increasingly means not just a good life but life for good—living a life with purpose. Their Orascom Development Keys of Life research shows that around 7 out of 10 people view sustainable living as an appealing lifestyle choice, both now and in the coming decade.
Emphasizing the importance of sustainable living, Orascom Development Keys of Life industry leader Julia Backhaus believes that as they now spend 90% of their time in built environments, these spaces have essentially become their new “natural habitat.” Incorporating nature and sustainable construction methods into the design is pivotal for their and the planet’s future well-being. When all stakeholders align, they can challenge traditional industry practices and emerge as leaders in the pursuit of sustainability.
They translate their commitment to sustainability into tangible actions through a multi-pronged approach. They focus on resource efficiency, which they achieve by integrating renewable energy, water conservation and waste management systems into the projects. They also emphasize the creation of people-centric biophilic environments that foster a connection between residents and nature to improve their mental and physical wellbeing, and they incorporate robust and resilient structures into their developments to ensure they can withstand the impacts of climate change. Their forward-thinking design approach blends functional features with nature-centric layouts, providing a harmonious balance between the built environment and natural landscapes, essential for modern communities.
A Moment Of Pride
Omar can’t select just one of their destinations as an achievement because it is genuinely their scale—they have towns and destinations in the MENA region and Europe that set them apart. Since he joined in late 2020, the “project” he is most proud of is their transformation journey from a family business to a multinational company. This marks one of their most significant steps forward, providing them with the foundation for a sustainable and profitable business.
As they move forward, their next growth phase will be driven by accelerating the great work they have been doing and will revolve around several key areas. First and foremost, they are becoming more customer-centric in their decision-making. In the past, it often began with feeling and intuition – having a good sense of what their customers, visitors and residents want. That’s becoming a lot more fact-based, using market research and going into different regions and understanding how they should do things differently to delight their customers in each location and have them coming over and over again to Orascom Development’s destinations. They will also focus on the evolution of their talent, working together across the organization to align our processes and drive efficiency.
These efforts will be reflected in the continued success and growth of Orascom’s destinations, each of which has significantly contributed to the communities and economies where the company operates.