Lebanon Press Release

Beirut, August 21, 2023: Orascom Development, the leading international developer specializing in vibrant and integrated communities in Europe, the Middle East, and North Africa, announced its presence in the Lebanese market to highlight investment opportunities in its towns in Egypt, namely El Gouna on the Red Sea, and O West in West Cairo, as well as Andermatt Swiss Alps in Switzerland. This initiative comes as part of the company’s efforts to increase foreign investment on both regional and international levels.

The announcement was made during an event organized by Orascom Development at the Sursock Museum in Beirut, during which the three towns were introduced. The event was marked by the presence of senior executives of the company, in addition to an elite crowd of invitees and Lebanese investors. The night was complemented by a cocktail reception, as well as several musical performances that garnered the admiration of the audience.

Orascom Development’s extensive experience in building integrated towns is harnessed over the course of more than 30 years. It specializes in creating integrated destinations, where people are inspired to live, work, and play, spanning six different countries across three continents. The towns harmoniously combine residential areas with private villas and apartments, hotels, and award-winning leisure and commercial amenities – including golf courses, marinas, sports facilities, retail shops and restaurants. Each master-planned community is a testament to company’s commitment to place-making at its finest.

CEO of El Gouna Mr. Mohamed Amer said “In addition to being the unique integrated destination that it is today, El Gouna provides unparalleled quality of life for its residents. This plays an important role in the value creation and price appreciation that we have consistently seen in the town’s real estate market, securing safe investment opportunities. Delivering within two years, makes the town among the fastest in deliveries in Egypt, leading to higher demand from international buyers.”

El Gouna features 18 hotels, two golf courses designed according to the highest international standards, and three world-class marinas. In addition, the town includes workspaces for startups, entrepreneurs and private companies, as well as three international schools, an international hospital and a conference and culture center.

Being home for 25,000 residents of more than 50 nationalities, El Gouna is a true multicultural town with 9,200 residential units. The town’s diverse facilities and strong infrastructure, enables it to be a hub for international and regional sports and arts events, such as El Gouna Film Festival, one of the biggest film festivals in the region gaining global attention from media, celebrities and industry experts alike. Additionally, the city hosts El Gouna International Squash Tournament, with its 11 editions, along with sports tournaments covering various disciplines such as fishing, golf, water sports, and the El Gouna Half Marathon.

From his end, Mr. Tamer Dewidar, CEO of O West, Makadi Heights and Byoum, affirmed, "O West is the first residential town for Orascom Development in 6th of October city, West of Cairo. It realizes a significant real estate investment opportunities, in the continuously growing Egyptian real estate market. At O West, we aspire to achieve integration and harmony between our community’s various needs. We strive to offer comprehensive services and amenities to create a comfortable and healthy environment for our residents. We focus on providing vital facilities, such as the O West sports and social club, and the educational area which is currently operating at full capacity with five schools, in addition to sports, and culture activities regularly taking place at the town.”

He concluded by saying "Since the inception of O West, we have been diligent in studying the requirements and needs of our customers, and maintaining the trust they have placed in us. Recently, we launched the Core Apartments, which was sold out within just three days, indicating the significant trust of investors seeking real estate placements. This impelled us to work on launching the second phase very soon."

O West is situated on a 4,2 million sqm. area and includes 11,000 residential units. The town’s urban planning secures a balance between built spaces and green areas and features contemporary neighborhoods that offer places for social interactions.

As for Andermatt Swiss Alps in Switzerland, it stands out among all towns of Orascom Development. It is located on a 1,57 million sqm. area at 1,444 meters above sea level. Notably, it is in close proximity to the Alps and strategically positioned, only 90 minutes from Zurich and two hours from Milan. At the end of the 2022, 650 apartments and hotel residences already completed or under construction had been sold. Since the start of the project in 2007 until the end of 2022, a total of around CHF 1.4 billion has been invested. It is home to residents from 38 countries around the world and features an 18-hole golf course, compliant with international competition standards, and is a favourable place for ski enthusiasts.

It's worth mentioning that Orascom Development aims, through its presence in Lebanon, to promote foreign investment across its three destinations, particularly El Gouna and O West in Egypt, and Andermatt Swiss Alps in Switzerland supporting the growth of the real estate sector, especially in the Middle East region. For inquiries and further information about these cities, you can visit the website.

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About Orascom Development Holding:

Leading international developer specializing in vibrant and integrated communities in Europe, the Middle East, and North Africa. For more than 30 years, Orascom Development has been a pioneer in creating destinations where people are inspired to live, work, and play with passion and purpose. 

From El Gouna’s stunning Egyptian coastal town by the Red Sea, to Andermatt Swiss Alps’ breathtaking year-round mountain destination, each master-planned community is a testament to Orascom Development's commitment to place-making at its finest. The integrated towns harmoniously combine residential areas with private villas and apartments, hotels, and award-winning leisure and commercial amenities, including golf courses, marinas, sports facilities, retail shops and restaurants.

Orascom Development owns a land bank of more than 100 million sqm. with nearly 40% under development, or developed into thriving communities in Egypt (El Gouna, Makadi Heights, O West, Taba Heights, and Byoum), in the GCC (The Cove in the UAE and Jebel Sifah and Hawana Salalah in Oman), and in Europe (Andermatt Swiss Alps in Switzerland, Luštica Bay in Montenegro, and West Carclaze Garden Village in the UK). Orascom Development’s hospitality portfolio also includes 33 premium and luxury hotels, with more than 7,000 rooms across Europe, the Middle-East, and North Africa. ODH shares are listed on the SIX Swiss Exchange.

For more information, please visit www.OrascomDevelopment.com