Press Release

Orascom Development Holding expands Executive Management

Altdorf/Cairo, 6 March 2017 - The Board of Directors of Orascom Development Holding AG (ODH) has resolved on 5 March 2017 to expand the Executive Management of ODH effective 1 April 2017. Ashraf Nessim has been appointed as Chief Financial Officer and an Executive Management member after having already served in this function on an ad interim basis since May 2016.

Nermine Faltas, Group Chief Human Resources & Organization Development Officer, and Tarek Gadallah, Group General Counsel, have also been appointed as members of the Executive Management.

Prior to joining ODH in June 2016, Nermine Faltas served as the VP for Operations and Human Capital in A15 (previously Orascom Telecom Ventures). Tarek Gadallah previously was a partner at Egyptian law firm Ibrachy & Partners, focusing mainly on mergers and acquisitions, before joining ODH in November 2016.

About Orascom Development Holding

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 eight jurisdictions (Egypt, UAE, Jordan, Oman, Switzerland, Morocco, Montenegro and United Kingdom), with a primary focus on touristic destinations. The Group currently operates ten destinations; five in Egypt El Gouna, Taba Heights, Makadi, Fayoum and Haram City, The Cove in United Arab Emirates, Jebel Sifah and Salalah Beach in Oman, Lustica Bay in Montenegro 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: +202 246 18961
Tel: +41 418 74 17 11
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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