FY 2012 Annual Report - Orascom Development
FY 2012 Annual Report - Orascom Development
FY 2012 Annual Report - Orascom Development
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28 <strong>Orascom</strong> <strong>Development</strong> <strong>2012</strong> <strong>Annual</strong> <strong>Report</strong> 29<br />
HARAM CITY, EGYPT<br />
Operating Destination<br />
Another year with more than 500<br />
residential units sold<br />
For the 5th consecutive year, <strong>Orascom</strong> Housing<br />
Communities (OHC) sold more than 500 residential<br />
units in the low income housing sector.<br />
Social Mobility Initiative with<br />
World Bank<br />
During <strong>2012</strong> OHC worked with the World Bank<br />
and the GSF to promote a social mobility concept,<br />
focusing on modular expansion of smaller units into<br />
larger ones.<br />
Guarantee and Subsidy Fund activated<br />
Activation of the Guarantee and Subsidy Fund (GSF),<br />
a governmental low income housing program providing<br />
mortgage subsidies, supported inventory sales.<br />
OHC wins Cityscape Egypt award<br />
In February OHC was awarded the Residential<br />
Project Award for its flagship project Haram City by<br />
Cityscape Egypt. This award is the fourth and most<br />
recent acknowledgement for OHC’s efforts<br />
in developing fully integrated cities.
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