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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