Orascom Development Holding AG: signs a three years' rental agreement for EUR 3.3 million per annum with FTI Group for 3 hotels in Makadi through its Egyptian subsidiaries. Montag, 17. Oktober 2016 - 08:01

Orascom Development Holding AG / Key word(s): Miscellaneous/Miscellaneous
Orascom Development Holding AG: signs a three years' rental agreement for
EUR 3.3 million per annum with FTI Group for 3 hotels in Makadi through its
Egyptian subsidiaries.

17.10.2016 / 07:00
Release of an ad hoc announcement pursuant to Art. 53 KR.


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Press Release

Orascom Development Holding signs a three years' rental agreement for EUR
3.3 million per annum with FTI Group for 3 hotels in Makadi through its
Egyptian subsidiaries.

Cairo, 17 October 2016 - Orascom Development Holding is pleased to announce
the signing of a 3 years' rental agreement through its Egyptian
subsidiaries with FTI Group, for three of its hotels in Makadi.

FTI is the fourth largest tour operator in Germany with over 5.3 million
Passengers (PAX) and consolidated revenues of EUR 2.6 BN in FY14/15. The
company employs over 6,000 staff worldwide and offers a wide range of
services associated with holiday and travel.

Royal Azur (491 rooms), Club Azur (339 rooms), and Makadi Gardens (281
rooms), will be rented for a total amount of EUR 3.3 million per annum and
subject to an annual increase of 5%. It is worth noting that two of those
hotels were shut down since December 2015 as a result of the travel bans
imposed by the Russian authority.

The agreement's start date is set on the 1st of November 2016.  Rental
payments are scheduled quarterly in equal instalments.

About Orascom Development Holding

Orascom Development is a leading developer of fully integrated destinations
that include hotels, private villas and apartments, leisure facilities such
as golf courses, marinas and supporting infrastructure. Orascom
Development's diversified portfolio of destinations is spread over eight
jurisdictions (Egypt, UAE, Jordan, Oman, Switzerland, Morocco, Montenegro
and United Kingdom), with a primary focus on touristic destinations. The
Group currently operates seven destinations; three in Egypt El Gouna, Taba
Heights and Makadi, The Cove in United Arab Emirates, Jebel Sifah and
Salalah Beach in Oman and Andermatt in Switzerland. Orascom Development has
a dual listing, with a primary listing on the SIX Swiss Exchange and a
secondary listing on the EGX Egyptian Exchange.

Contact for Investors:
Sara El Gawahergy         
Head of Investor Relations    
Tel: +202 246 18961
Tel: +41 418 74 17 11       
Email: ir@orascomdh.com     

Contact for Media Relations:
Philippe Blangey
Partner
Dynamics Group AG
Tel: +41 432 68 32 35
Email: prb@dynamicsgroup.ch


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regarding our targeted profit improvement, return on equity targets,
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Development's results of operations and on whether Orascom Hotels and
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performance is not a guide to future performance. Please also note that
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Persons requiring advice should consult an independent adviser.


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End of ad hoc announcement

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