Annual Report - Orascom Development
Annual Report - Orascom Development
Annual Report - Orascom Development
You also want an ePaper? Increase the reach of your titles
YUMPU automatically turns print PDFs into web optimized ePapers that Google loves.
APR 06<br />
Berenice<br />
OHD was awarded 25 million sq mt of land in Berenice, a semi-island on<br />
the southern borders of Egypt.<br />
MAY 06<br />
InterContinental Taba Heights<br />
Opening of the InterContinental Taba Heights, a 503 room five star hotel,<br />
including other hospitality-related amenities.<br />
JUN 06<br />
Land Bank Sale<br />
OHD begins to exit Egyptian Company for Touristic Resorts, sold as part<br />
of the company’s trading land bank at a net gain of LE 93 million.<br />
AUG 06<br />
New Towers<br />
Moved to state-of-the-art premises to accommodate growing business<br />
needs and reflect our international position.<br />
SEP 06<br />
Andermatt Ruling<br />
For the first time in Swiss history, OHD is granted an exemption from the<br />
Lex Koller law, allowing land ownership by non-Swiss residents in Andermatt.<br />
Tamweel License<br />
OHD awarded one of only four licenses granted by the Egyptian Mortgage<br />
Finance Authority. Tamweel Mortgage Comapany subsequently established<br />
with an authorised capital of LE 500 million.<br />
OCT 06<br />
NOV 06<br />
Taba Heights Golf<br />
Opening of the Taba Heights 18 hole championship golf course, creating<br />
a wealth of new marketing opportunities for the resort and its hotels.<br />
Garranah Acquisition<br />
Approval of the acquisition of a controlling stake of 51% in Garranah<br />
Touristic Group.<br />
Capital Increase<br />
General assembly approved the increase of capital to LE 2 billion through<br />
rights issue.<br />
DEC 06<br />
Budget Housing<br />
Establishment of <strong>Orascom</strong> Housing Communities (OHC) for low income<br />
housing projects starting with 50,000 units on a 9.2 million sq mt site in<br />
Greater Cairo.
Change language