Table of Contents
Key Points
- Orascom Construction will lead The American University in Cairo’s “Campus 2026” expansion, reinforcing its role in sustainable infrastructure development.
- The company recently completed a 306-megawatt wind farm in Ras Ghareb, exceeding targets and advancing Egypt’s renewable energy transition.
- Orascom reported $2.32 billion in revenue for the first nine months of 2024, with strong earnings supporting shareholder returns.
Orascom Construction, the Cairo-based construction giant controlled by Egypt's wealthiest family, the Sawiris family, is set to lead the expansion of The American University in Cairo, reinforcing its dominance in sustainable infrastructure development.
The company has secured the contract to develop “Campus 2026,” a major expansion of The American University in Cairo (AUC). The project, spanning approximately 65 feddans, aims to enhance innovation, elevate the student experience, and strengthen AUC’s status as a premier institution for higher education in the region.
The expansion will feature three key developments: the NextGen Student and Learning Living Spaces, the Technology, Research, and Innovation (TRI) Lab Building, and the Extended Education Hub. The construction plan includes five state-of-the-art buildings, an underground service tunnel, and advanced infrastructure and landscaping.
Orascom boosts Egypt’s infrastructure with Eco-friendly design
Designed in line with global sustainability standards, the project underscores Orascom Construction’s leadership in green architecture. The company, with a portfolio spanning airports, museums, hospitals, and landmark buildings in Egypt and the U.S., continues to drive sustainable infrastructure development.
“This partnership reinforces our commitment to delivering world-class projects that contribute to Egypt’s cultural and educational landscape,” Orascom Construction stated. The firm has played a pivotal role in developing iconic social infrastructure, including the Grand Egyptian Museum and the Magdi Yacoub Global Heart Center.
Orascom’s growth momentum and renewable energy push
Founded in 1976 by the late Onsi Sawiris, Orascom Construction has evolved into a key player in engineering and infrastructure, with a strong presence in the Middle East, Africa, and the U.S. Nassef Sawiris, Egypt’s richest individual, owns a 36.52 percent stake, bolstering the company’s leadership in renewable energy and sustainable development.
Orascom recently completed a 306-megawatt wind farm in Ras Ghareb, exceeding its initial target by 56 MW and delivering the project four months ahead of schedule. The achievement reinforces the company’s growing influence in Egypt’s renewable energy transformation.
Financial performance and shareholder returns
Despite headwinds, Orascom Construction reported $2.32 billion in revenue for the first nine months of 2024, a slight dip of 1.92 percent from $2.37 billion in the same period last year. However, strong operational performance supported earnings, with adjusted EBITDA reaching $119.4 million and adjusted net income attributable to shareholders standing at $86.3 million.
Demonstrating confidence in its financial stability, Orascom Construction declared an interim dividend of $24.25 million, reinforcing its commitment to shareholder value amid market challenges. With its latest university expansion project and sustained investment in renewable energy, Orascom Construction continues to cement its position as a leader in Egypt’s infrastructure and sustainable development sectors.
