COMPANY DESCRIPTION
Orascom Housing Communities (OHC) is the first private homebuilder focused on providing high-quality, affordable housing to low-income consumers in Egypt and the surrounding region. The Company was created to capitalize on the strong unmet demand for entry-level housing and to improve the existing availability of inferior supply. The Company’s flagship development, Haram City is located in the Sixth of October area just outside of Cairo. OHC has initiated development in Qena and plans to expand to other cities over time.

MARKET OVERVIEW
Egypt has a large and increasing unmet demand for affordable housing and a history of ineffective solutions, both private and public. Market conditions present an opportunity to develop high-quality affordable homes in large-scale communities as the nascent mortgage market develops and the government offers support to sustain it. Significant barriers to entry, such as complicated land acquisition, entitlement and permitting processes, will limit competition as the market evolves.