- Business
- Orascom Development Holding AG (ODHN.SW) develops and manages integrated towns featuring hotels, residential real estate, leisure facilities, and supporting infrastructure in Europe, the Middle East, and North Africa. The company operates through four segments: Hotels, which provides hospitality services in two- to five-star hotels with 33 properties and 7,198 rooms; Real Estate and Construction, which acquires undeveloped land and builds residential units, villas, and other facilities in phases; Land Sales, which sells land and land rights to third parties; and Destination Management, which delivers facility, infrastructure, sports, hospital, educational, marina, limousine rental, laundry, mortgage, and other services at operational resorts. It maintains a diverse portfolio of destinations in Egypt (El Gouna), Oman (Hawaiana Salalah), the United Arab Emirates, the United Kingdom, Montenegro, Switzerland (Andermatt Swiss Alps), Morocco, and internationally, targeting affluent residents, tourists, investors, and leisure seekers. Founded in 1989 and headquartered in Altdorf, Switzerland, Orascom Development Holding AG functions as a subsidiary of LPSO Foundation Company, with key executives including Group CEO Omar El Hamamsy and regional leaders such as Mohamed Amer, CEO of El Gouna. In late 2024, majority shareholder LPSO Holding Ltd. launched a public tender offer at CHF 5.60 per share, securing 97.34% control by early 2025, leading to delisting from SIX Swiss Exchange on June 5, 2025, and removal from indices like Solactive Switzerland All Cap; the company also published its 2024 Annual Report in April 2025, highlighting FY 2024 financials for its Egyptian subsidiary and sustainability efforts under the "Life with Purpose" initiative.