FY 2012 Annual Report - Orascom Development

F-49 Orascom Development 2012 Annual Report F-50
19 SUBSIDIARIES
The Group has control over all the subsidiaries below either directly or indirectly through subsidiaries controlled by the Parent
Company. Details of the Group’s significant subsidiaries at the end of the reporting period are as follows:
Country – Company name Domicile FC
Egypt
Share/paidin
capital
Proportion
of
ownership
interest
and voting
power held
by the
Group
Abu Tig for Hotels Company Red Sea EGP 3,412,500 98.58% 2
Accasia for Hotels Company Cairo EGP 25,000,000 99.16% 5
Arena for Hotels Company S.A.E Cairo EGP 20,000,000 100.00% 4
Azur for Floating Hotels Company
S.A.E (ii)
Cairo EGP 3,000,000 50.84% 5
Captain for Hotels Company Red Sea EGP 768,750 59.69% 3
El Dawar for Hotels Company Cairo EGP 9,560,000 99.16% 3
El Khamsa for Hotels & Touristic
Establishments
El Golf for Hotels Company & Touristic
Establishments
Red Sea EGP 48,000,000 99.97%
Cairo EGP 19,000,000 99.16% 5
El Gouna for Hotels Company S.A.E Cairo EGP 79,560,000 70.12% 5
El Gouna Hospital Company Red Sea EGP 19,000,000 75.23%
El Gouna Services Company Red Sea EGP 250,000 99.68%
El Mounira for Hotels Company S.A.E Red Sea EGP 13,000,000 64.46% 4
El Tebah for Hotels & Touristic
Establishments Company
Cairo EGP 52,000,000 70.12% 5
El Wekala for Hotels Company Cairo EGP 39,000,000 74.58% 4
International Company for Taba
Touristic Projects (Taba Resorts)
International Hotel Holding
(previously: Orascom Hotels Holding
S.A.E)
Marina 2 for Hotels & Touristic
Establishments Company
Marina 3 for Hotels & Touristic
Establishments Company
Cairo EGP 96,000,000 64.47% 5
Cairo EGP 452,367,300 99.16%
Cairo EGP 19,250,000 59.50% 4
Cairo EGP 26,000,000 100.00% 4
Med Taba for Hotels Company S.A.E Cairo EGP 51,000,000 66.57% 4
Misr El Fayoum for Touristic
Development Company S.A.E
Cairo EGP 28,000,000 67.06%
Mokbela for Hotels Company S.A.E Cairo EGP 85,000,000 81.87% 5
Orascom Hotels & Development S.A.E Cairo EGP
1,109,811,63
0
99.68%
Orascom Housing Communities (OHC) Cairo EGP 185,000,000 69.34%
Haram City for Constructions and
Services S.A.E
Cairo EGP 1,500,000 69.56%
Orascom Housing Company Cairo EGP 22,000,000 99.68%
Paradisio for Hotels & Touristic
Establishments Company S.A.E
Red Sea EGP 18,500,000 99.16% 4
Rihana for Hotels Company S.A.E Red Sea EGP 13,000,000 59.50% 4
Roaya for Tourist & Real Estate
Development SAE
Royal for Investment & Touristic
Development S.A.E
Red Sea EGP 50,000,000 74.26%
Cairo EGP 50,000,000 59.61% 4
Taba First Hotel Company S.A.E Cairo EGP 105,000,000 59.57% 5
Taba Heights Company S.A.E
South
Sinai
EGP 157,510,000 98.65%
Tamweel Leasing Finance Co. ILC Cairo EGP 28,860,734 79.70%
Tamweel Mortgage Finance Company
S.A.E
Cairo EGP 100,000,000 87.66%
Tawila for Hotel Company S.A.E Cairo EGP 68,000,000 99.16% 5
Segment
HO* R&C LS DM Other HQ
Country – Company name Domicile FC
Jordan
Share/paid
in capital
Proportion
of
ownership
interest
and voting
power held
by the
Group
Golden Beach for Hotels Company Aqaba JOD 8,200,000 100.00% 4
Mauritius
Club Méditerranée Albion Resorts Ltd
(i)
Montenegro
Lustica Development Ad Podgorica
Morocco
Oued Chibika Development (SA)
Chbika Rive Hotel
Oman
Madrakah Hotels Management
Company LLC
Muriya Tourism Development
Company (S.A.O.C)
Salalah Beach Tourism Development
Company (S.A.O.C)
Sifah Tourism Development Company
(S.A.O.C)
Wateera Property Management
Company LLC
Switzerland
Andermatt Swiss Alps AG (previously
AADC AG)
Andermatt Hotels Holding AG
Bellevue Hotels and Apartment
Development AG.
United Arab Emirates
RAK Tourism Investment FZC
Port-
Louis
EUR 20,000,000 12.40%
Podgoric
a EUR 25,000 90.00%
Casablan
ca
Casablan
ca
MAD 286,117,692 64.99%
MAD 16,500,000 65.00% UC
Muscat OMR 4,350,000 70.00%
Muscat OMR 7,500,000 70.00%
Muscat OMR 16.600.000 70.00%
Muscat OMR 17,700,000 70.00%
Muscat OMR 270,000 70.00%
Altdorf CHF 42,000,000 100.00%
Anderma
tt
CHF 100,000 100.00%
Altdorf CHF 4,360,000 73.48% UC
Ras al
Kaimah
AED 7,300,000 73.00% 5
United Kingdom
Eco-Bos Development Limited Cornwall GBP 10,000,000 75.00%
Segment
HO* R&C LS DM Other HQ
(i) The Group has control over the Club Méditerranée Albion Resorts Ltd through a call and put option as described in note 35.
Abbreviations:
HO Hotels
R&C Real estate and construction
LS Land sales
DM Destination management
HQ Headquarter or not yet operational
Other Other operations
* Number of stars the hotel holds
UC Hotel under construction
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F-50