FY 2012 Annual Report - Orascom Development
FY 2012 Annual Report - Orascom Development
FY 2012 Annual Report - Orascom Development
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6 <strong>Orascom</strong> <strong>Development</strong><br />
<strong>2012</strong> <strong>Annual</strong> <strong>Report</strong> 7<br />
1.3 Destinations’ Map<br />
49.7<br />
million m 2<br />
0.3<br />
million m 2<br />
22.8<br />
million m 2<br />
1.5<br />
million m 2<br />
Egypt<br />
U.A.E.<br />
Oman<br />
Switzerland<br />
Operating Destination<br />
The Cove<br />
Operating destination<br />
El Gouna<br />
Taba Heights<br />
Haram City<br />
Developing destination<br />
Amoun Island<br />
Fayoum<br />
Makadi<br />
Qena Gardens<br />
Operating Destination<br />
Jebel Sifah<br />
Salalah Beach 1<br />
Developing destination<br />
As Sodah Island<br />
Destination in the pipeline<br />
City Walk, Muscat 2<br />
Developing destination<br />
Andermatt Swiss Alps<br />
15.0<br />
million m 2<br />
6.9<br />
million m 2<br />
6.6<br />
million m 2<br />
3.1<br />
million m 2<br />
Morocco<br />
Montenegro<br />
United Kingdom<br />
Romania<br />
105.8<br />
million m 2<br />
total area<br />
15.5<br />
million m 2<br />
completed<br />
15%<br />
completed<br />
Developing destination<br />
Chbika<br />
Developing destination<br />
Luštica <strong>Development</strong><br />
Destination in the pipeline<br />
Eco-Bos<br />
Destination in the pipeline<br />
Constanta<br />
Any plot of land, developed or undeveloped, which is under the direct or indirect possession of <strong>Orascom</strong> <strong>Development</strong> by virtue of lease, usufruct and/or ownership rights and over which <strong>Orascom</strong><br />
<strong>Development</strong> may have further rights to develop, fully own, lease to third parties, sell to third parties, grant sub-usufruct rights to third parties, or otherwise dispose to third parties. Each plot of land is governed<br />
by the respective agreement between <strong>Orascom</strong> <strong>Development</strong> (directly or indirectly) and the respective governmental entity, shareholders, and/or investors.<br />
1 The discrepancy between the land size of the Salalah Beach project reflected in this year’s <strong>Annual</strong> <strong>Report</strong> as compared to previous years is due to our earlier reliance on the initial agreement (reflected in<br />
the initial master plan) between <strong>Orascom</strong> <strong>Development</strong> and the Ministry of Tourism. It was initially agreed that <strong>Orascom</strong> <strong>Development</strong> would be granted 25.1 million square meters of land. However, the final<br />
arrangement was to grant us the 15.6 million square meters as reflected in the <strong>Development</strong> Agreement and the final master plan. <strong>Orascom</strong> <strong>Development</strong> and the Government of the Sultanate of Oman<br />
agreed to later discuss the possibility of acquiring the remaining land to develop a housing project.<br />
2 An understanding has been reached between <strong>Orascom</strong> <strong>Development</strong> and the government of Oman in 2007, however no official land has been allocated to <strong>Orascom</strong> <strong>Development</strong> yet.
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