Orascom Development Holding AG

EQS-Adhoc: Orascom Development Holding AG (ODH) launches the grand opening of Fanar Hotel in Salalah Beach, thereby completing the 700-room Phase I of its hotel development plan in Oman.


EQS Group-Ad-hoc: Orascom Development Holding AG / Key word(s):
Miscellaneous/Miscellaneous
Orascom Development Holding AG (ODH) launches the grand opening of Fanar Hotel
in Salalah Beach, thereby completing the 700-room Phase I of its hotel
development plan in Oman.

09.02.2016 / 07:00
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 Development Holding (ODH) launches the grand opening of Fanar Hotel in
Salalah Beach, thereby completing the 700-room Phase I of its hotel development
plan in Oman.

Altdorf/Cairo, 9 February 2016 - Muriya, a joint venture between Orascom
Development Holding (70%), and Omran (30%); the tourism development arm of the
Omani Government, successfully completed the 700-room Phase I of the hotel
development plan in Salalah Beach, Oman, making it the largest contributor to
the development of high-end hotels in Oman in the last five years.

Marking the completion of this milestone, Muriya organised a celebration
ceremony held under the auspices of H.E. Sayyid Muhammad bin Sultan Al Busaidi,
Minister of State and Governor of Dhofar and Mr. Samih Sawiris, Chairman of ODH
in participation of government dignitaries, as well as company representatives
and clients. The celebration included the grand opening of the company's third
hotel, the 4-star 218-room Fanar Hotel & Residences.

Samih Sawiris, Chairman of ODH and Muriya which has already invested over USD
500 million said: "I would like to thank the Government of Oman, all its
institutions and especially the Ministry of Tourism led by HE Ahmed Nasser
Al-Mahrizi, Minister of Tourism, for the continuous support. The 6 weekly direct
flights from top European cities to Salalah are bringing around 50,000 tourists
annually benefiting all of Dhofar hotels, while generating a strong traffic flow
for the newly opened, state of the art Salalah Airport."

Mr. Sawiris further stated that the grand opening shows Orascom Development
Holding's commitment to continue building bustling high-end touristic towns,
develop new lifestyle experiences and jobs well beyond the direct employment
within ODH and its hotels.

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
Head 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

Disclaimer & Cautionary Statement

The information contained in this e-mail, its attachment and in any link to our
website indicated herein is not for use within any country or jurisdiction or by
any persons where such use would constitute a violation of law. If this applies
to you, you are not authorized to access or use any such information. Certain
statements in this e-mail and the attached news release may be forward-looking
statements, including, but not limited to, statements that are predications of
or indicate future events, trends, plans or objectives. Forward-looking
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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09.02.2016 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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