Annual Report - Orascom Development

Future projects
Mauritius
Club Méditerranée Venture
We have signed a joint venture with Club Méditerranée, the
inter- nationally renowned resort owner. With an initial investment
of €1 million, OHD will have a 75% share in the venture to develop
real estate at select Club Med locations around the world.
The first phase of the venture is the development of 40 villas on
the island of Mauritius. OHD has also retained an option to buy
the hotel, as part of our strategy to increase room capacity.
Morocco
Chbika
During 2006 OHD entered into negotiation with the Government of
Morocco to develop an OHD town in the south of the country. The
agreement will provide us with a total land bank of 15 million sq mt
at Chbika in the province of Guelmim (300 km from Agadir).
With a stake of 70% OHD will build a resort boasting 2,500 hotel
guest rooms, 1,750 residential units, a golf course, marina and city
centre facilities.
Yemen
Kamaran
During 2006 OHD entered into negotiation with the Government of
Morocco to develop an OHD town in the south of the country. The
agreement will provide us with a total land bank of 15 million sq mt
at Oued Chbika in the province of Guelmim (300 km from Agadir).
With a stake of 70% OHD will build a resort boasting 2,500 hotel
guest rooms, 1,750 residential units, a golf course, marina and city
centre facilities.