Orascom Development Holding AG

EQS-Adhoc: Orascom Development Holding AG: Orascom Hotels and Development (OHD), the Group's Largest, Egyptian subsidiary signs a USD 20 million (CHF 19.5 million) sub-development agreement in El Gouna, Egypt



EQS Group-Ad-hoc: Orascom Development Holding AG / Key word(s):
Miscellaneous/Miscellaneous
Orascom Development Holding AG: Orascom Hotels and Development (OHD), the
Group's Largest, Egyptian subsidiary signs a USD 20 million (CHF 19.5 million)
sub-development agreement in El Gouna, Egypt

09.09.2015 / 18:00
Release of an ad hoc announcement pursuant to Art. 53 KR.
The issuer is solely responsible for the content of this announcement.

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Press Release

Orascom Hotels and Development (OHD), the Group's Largest, Egyptian subsidiary
signs a USD 20 million (CHF 19.5 million) sub-development agreement in El Gouna,
Egypt

Altdorf/Cairo, 9 September 2015 - Pursuant to the Group's strategic notion of
accelerating the monetization of its land bank, OHD is continuing to prove its
successful implementation and has signed an agreement with ALCOM for Touristic
Development S.A.E; a Hassan Allam Properties Company to to sub-develop 100,000
m2 of land in El Gouna for a total value of USD 20 million (CHF 19.5 million)
and has received 15% of the total deal value.

Hassan Allam Properties is one of Egypt's leading property developers, with a
portfolio of luxury residential communities and leisure resorts, and 4 million
m2 of land under development in prime locations around Egypt.

ALCOM is planning to establish a real estate and touristic project on the
designated plot located west of the Ancient Sands project.

About Orascom Development Holding AG

Orascom Development is a leading developer of fully integrated destinations that
include hotels, private villas and apartments, leisure facilities such as golf
courses, marinas and supporting infrastructure. Orascom Development's
diversified portfolio of destinations is spread over seven jurisdictions (Egypt,
UAE, Oman, Switzerland, Morocco, Montenegro and United Kingdom), with primary
focus on touristic destinations. The Group currently operates seven
destinations; three in Egypt El Gouna, Taba Heights, and Makadi, The Cove in
United Arab Emirates , Jebel Sifah and Salalah Beach in Oman and Andermatt in
Switzerland. Orascom Development has a dual listing, with a primary listing on
the SIX Swiss Exchange and a secondary listing on the EGX Egyptian Exchange.

Contact for Investors:
Sara El Gawahergy
Director of Investor Relations
Tel: +20 100 218 56 51
Tel: +41 418 74 17 11
Email:ir@orascomdh.com


Contact Media Relations
media@orascomdh.com

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statements include statements regarding our targeted profit improvement, return
on equity targets, expense reductions, pricing conditions, dividend policy and
underwriting claims improvements. Undue reliance should not be placed on such
statements because, by their nature, they are subject to known and unknown risks
and uncertainties and can be affected by other factors that could cause actual
results and Orascom Development Holding AG's plans and objectives to differ
materially from those expressed or implied in the forward looking statements (or
from past results). Factors such as (i) general economic conditions and
competitive factors, particularly in our key markets; (ii) performance of
financial markets; (iii) levels of interest rates and currency exchange rates;
and (vii) changes in laws and regulations and in the policies of regulators may
have a direct bearing on Orascom Development Holding AG's results of operations
and on whether Orascom Development Holding AG will achieve its targets. Orascom
Development Holding AG undertakes no obligation to publicly update or revise any
of these forward-looking statements, whether to reflect new information, future
events or circumstances or otherwise. It should further be noted, that past
performance is not a guide to future performance. Please also note that interim
results are not necessarily indicative of the full-year results. Persons
requiring advice should consult an independent adviser.

End of ad hoc announcement

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09.09.2015 News transmitted by EQS Schweiz AG. www.eqs.com - news archive:
http://switzerland.eqs.com/de/News

The issuer is responsible for the contents of the release.
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Language: English

Company:  Orascom Development Holding AG

          Gotthardstraße 12

          6460  Altdorf

          Switzerland

Phone:    +41 41 874 17 17

Fax:      +41 41 874 17 07

E-mail:ir@orascomdh.com

Internet: www.orascomdh.com

ISIN:     CH0038285679

Valor:    A0NJ37

Listed:   Foreign Exchange(s) SIX


End of News EQS Group News Service

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393441  09.09.2015
 



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