Annual Report - Orascom Development

8 | Growth in international presence | OHD Annual Report 2006
In 2006 OHD continued in its
strategy to grow its international
portfolio, entering new markets
in six countries outside Egypt.
Growth in International Presence
Oman
OHD has secured land on four different sites in Oman with a total area of 22.8 million sq mt.
OHD owns a 70% majority stake in the joint venture with the Omani Ministry of Tourism.
Switzerland
The first European resort announced as part of OHD’s international expansion is Andermatt in Switzerland.
1.38 million sq mt of land will be developed placing Andermatt at the forefront of Europe’s ski and golf resorts.
Mauritius
The furthest OHD location is the Albion Village in Mauritius, where a joint venture with the internationally
renowned leisure company Club Méditeranée will witness the development of high value real estate units
for sale alongside the resort.
Morocco
Morocco is the most recent country to announce its collaboration with OHD in early 2007, adding 15 million
sq mt to OHD’s rapidly increasing land bank. OHD will hold a 70% majority holding and has begun the
planning phase.
U.A.E.
A major deal in the United Arab Emirates saw the development of a seaside destination in Ras Al Khaimah.
The Cove includes a fourve star, 196 room hotel along with waterfront chalets, apartments, and commercial
centre on 400,000 sq mt of land.
Jordan
OHD holds a 19% stake in the development of Tala Bay on the Gulf of Aqaba. This luxury resort neighbours
Taba Heights in Sinai and the two destinations are connected via a Red Sea ferry. The 2.7 million sq mt
development includes hotels, approximately 1,000 real estate units, a golf course, and sailing marina.