2020

08.03.2020 – Orascom Development Holding AG

Orascom Development Holding AG continues to deliver on its land bank monetization strategy, securing CHF 19.5 million from its 3 School Development Agreements in O West, Egypt.

Orascom Development Holding AG / Key word(s): Miscellaneous/Miscellaneous
Orascom Development Holding AG continues to deliver on its land bank
monetization strategy, securing CHF 19.5 million from its 3 School
Development Agreements in O West, Egypt.

08-March-2020 / 14:34 CET/CEST
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 AG continues to deliver on its land bank
monetization strategy, securing CHF 19.5 million from its 3 School
Development Agreements in O West, Egypt.

Altdorf, 8 March 2020 - Orascom Development Holding is pleased to announce
that its largest Egyptian subsidiary, Orascom Development Egypt (ODE) signed
a second agreement for School Development to establish two more Schools in O
West, ODH's first home project located in 6th of October City.


The agreement was signed with Cairo for Investment & Real Estate Development
(CIRA) to develop two new schools with a total investment cost of up to CHF
27.7 million. "Eduhive" a subsidiary of CIRA will take over the oversight of
the schools which are expected to open their doors in 2021/2022. CIRA is the
largest integrated provider of educational services in the Egyptian private
sector. CIRA owns and operates 22 schools offering multiple education
tracks, including British, American, French, German, Canadian and National
curricula and serves more than 27,000 students.


Abdelhamid Abouyoussef, ODH's Executive Committee member commented: "In
addition to the importance of cooperating with such reputable international
operators in our efforts to add value to the O West community, the two
education zone transactions that we managed to successfully conclude over
the past few weeks resulted in securing a total of c. CHF 19.5 million of
cash inflows, which falls within our Group's strategic notion of
accelerating the monetization of our land bank in 2020 and onwards."

About Orascom Development Holding (ODH):

Orascom Development Holding (ODH) 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 nine destinations; four in Egypt (El Gouna, Taba Heights,
Fayoum and Makadi Heights), The Cove in the United Arab Emirates, Jebel
Sifah and Hawana Salalah in Oman, Luštica Bay in Montenegro and Andermatt in
Switzerland. The shares of ODH are listed on the SIX Swiss Exchange. ODH
also launched O West, the latest addition to its portfolio and its first
project in Cairo, Egypt, located in the 6th of October City.

Contact for Investors:
Sara El Gawahergy
Head of Investor Relations & Strategic Projects Management
Tel: +202 246 18961
Tel: +41 418 74 17 11
Mob: +41 79 156 78 49
Email: ir@orascomdh.com

Contact for Media Relations:
Philippe Blangey
Partner
Dynamics Group AG
Tel: +41 432 68 32 35
Email: prb@dynamicsgroup.ch

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targeted profit improvement, return on equity targets, expense reductions,
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Undue reliance should not be placed on such statements because, by their
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can be affected by other factors that could cause actual results and Orascom
Development Holding'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
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(vii) changes in laws and regulations and in the policies of regulators may
have a direct bearing on Orascom Development Holding's results of operations
and on whether Orascom Development Holding will achieve its targets. Orascom
Development Holding undertakes no obligation to publicly update or revise
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Persons requiring advice should consult an independent adviser.


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