2020

25.02.2020 – Orascom Development Holding AG

Orascom Development Holding AG inaugurates the construction of its new 400 rooms 5-star hotel in Hawana Salalah, Oman and thus completing the Group's minimum building obligations for the country in 2020 and securing its land bank.

Orascom Development Holding AG / Key word(s): Miscellaneous/Miscellaneous
Orascom Development Holding AG inaugurates the construction of its new 400
rooms 5-star hotel in Hawana Salalah, Oman and thus completing the Group's
minimum building obligations for the country in 2020 and securing its land
bank.

25-Feb-2020 / 07:00 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 inaugurates the construction of its new 400
rooms 5-star hotel in Hawana Salalah, Oman and thus completing the Group's
minimum building obligations for the country in 2020 and securing its land
bank.

Altdorf, 25 February 2020 - Orascom Development Holding AG (ODH), through
its Omani subsidiary Muriya (a Joint Venture between ODH (70%), and the Oman
Tourism Development Company (Omran) (30%)), is pleased to announce the start
of construction of its new 400-rooms 5-star hotel in Hawana Salalah, Oman.

The first phase of the hotel, comprising 120 rooms, is expected to be
completed before the end of December 2020. Upon completion of the first
phase, the Group's minimum building obligations in Oman will be satisfied,
thereby securing the land bank. The remaining 280 rooms will be opened
during 2021. This new hotel will bring Hawana Salalah's hotel capacity to
1,500 rooms and reiterates ODH's position as the largest private contributor
to the development of four and five-star hotels in Oman.

The total investment cost excluding the land is c. CHF 89.0 million (OMR
35.0 million). Partial funding of the hotel will be paid using the proceeds
of ODH's CHF 100 million bond that was issued in September 2019 in
particular with a view to further developing the destinations in Oman and
Montenegro.

The hotel will span over 105,000 m2 of premium beachfront land overlooking
the Indian Ocean and will offer 400 deluxe guestrooms and suites with
state-of-the-art architecture and interior designs. It will feature a
comprehensive range of modern amenities suiting the needs of business and
leisure travelers, including families. The hotel will be managed by Orascom
Hotels Management (OHM).

Once completed, the hotel complex will make Hawana Salalah the only
destination in the Sultanate that offers four very unique hotel and lodging
propositions across 1,500 luxury rooms.

Samih Sawiris, Executive Chairman of ODH said: "I am pleased with the
development progress in Hawana Salalah over the past six years which now has
all the successful components of making it an enticing international
touristic destination. We remain committed to make disciplined additions to
our portfolio that will further strengthen ODH's story. We will continue to
drive growth and act in the best interest for ODH and its stakeholders to
enhance shareholder value. The addition of our new 5-star luxury hotel
underlines our commitment and plans for further value adding investments in
the destination."

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
recently 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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