EQS-Adhoc

Orascom Development Holding AG (ODH) launches the grand opening of Fanar Hotel in Salalah Beach, thereby completing the 700-room Phase I of its hotel development plan in Oman.

EQS Group-Ad-hoc: Orascom Development Holding AG / Key word(s):
Miscellaneous/Miscellaneous
Orascom Development Holding AG (ODH) launches the grand opening of Fanar
Hotel in Salalah Beach, thereby completing the 700-room Phase I of its hotel
development plan in Oman.

09.02.2016 / 07:00
Release of an ad hoc announcement pursuant to Art. 53 KR.
The issuer is solely responsible for the content of this announcement.

---------------------------------------------------------------------------

Press Release

Orascom Development Holding (ODH) launches the grand opening of Fanar Hotel
in Salalah Beach, thereby completing the 700-room Phase I of its hotel
development plan in Oman.

Altdorf/Cairo, 9 February 2016 - Muriya, a joint venture between Orascom
Development Holding (70%), and Omran (30%); the tourism development arm of
the Omani Government, successfully completed the 700-room Phase I of the
hotel development plan in Salalah Beach, Oman, making it the largest
contributor to the development of high-end hotels in Oman in the last five
years.

Marking the completion of this milestone, Muriya organised a celebration
ceremony held under the auspices of H.E. Sayyid Muhammad bin Sultan Al
Busaidi, Minister of State and Governor of Dhofar and Mr. Samih Sawiris,
Chairman of ODH in participation of government dignitaries, as well as
company representatives and clients. The celebration included the grand
opening of the company's third hotel, the 4-star 218-room Fanar Hotel &
Residences.

Samih Sawiris, Chairman of ODH and Muriya which has already invested over
USD 500 million said: "I would like to thank the Government of Oman, all
its institutions and especially the Ministry of Tourism led by HE Ahmed
Nasser Al-Mahrizi, Minister of Tourism, for the continuous support. The 6
weekly direct flights from top European cities to Salalah are bringing
around 50,000 tourists annually benefiting all of Dhofar hotels, while
generating a strong traffic flow for the newly opened, state of the art
Salalah Airport."

Mr. Sawiris further stated that the grand opening shows Orascom Development
Holding's commitment to continue building bustling high-end touristic
towns, develop new lifestyle experiences and jobs well beyond the direct
employment within ODH and its hotels.

About Orascom Development Holding AG

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 seven