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Orascom Development Holding AG / Key word(s): Miscellaneous/Miscellaneous
Orascom Development Holding AG: Sale of land plot in El Gouna for CHF 28.8 million, corresponding to 15.7 times its
current book value
02-Jul-2024 / 07:00 CET/CEST
Release of an ad hoc announcement pursuant to Art. 53 LR
The issuer is solely responsible for the content of this announcement.
Ad hoc announcement pursuant to Art. 53 LR.
Sale of land plot in El Gouna for CHF 28.8 million, corresponding to 15.7 times its current book value.
Altdorf, 2 July 2024 - Orascom Development Holding (ODH) is pleased to announce that as part of its efforts to execute
the group's strategic direction of accelerating the monetization of its land bank, its largest subsidiary in Egypt,
Orascom Development Egypt (ODE), has sold 145,266 sqm of land at El Gouna for a total value of CHF 28.8 million (c. CHF
200/sqm). The land sale, executed at roughly 15.7 times its book value of CHF 1.9 million, marks a significant
milestone for ODH as it represents the most extensive land sale in El Gouna since 2015. Notably, this land plot is
situated at the backend of El Gouna's developed area. The sale will positively impact the company's financial statement
during Q2 2024.
Omar El Hamamsy, Group CEO of Orascom Development, said: "This transaction concurs with the Group's strategy of
identifying strategic uses for our land bank while accelerating its monetization and unlocking its hidden value to the
market, a crucial element of our short-and medium-term growth plan. I am pleased with this milestone, reiterating that
our Group owns many assets with substantial hidden values kept at book value in our financial statements. This
strategic sale is a testament to ODH's commitment to optimizing value creation and unlocking maximum potential for our
stakeholders."

About Orascom Development Holding AG:
Orascom Development Holding (ODH) is a leading developer of fully integrated towns, including hotels, private villas,
apartments, leisure facilities such as golf courses, marinas, and supporting infrastructure. Orascom Development
Holding's diversified portfolio is spread over seven jurisdictions (Egypt, UAE, Oman, Switzerland, Morocco, Montenegro,
and the United Kingdom). The group currently operates ten destinations: five in Egypt (El Gouna, Taba Heights, Makadi
Heights, O-West, and Byoum), The Cove in the United Arab Emirates, Jebel Sifah and Hawana Salalah in Oman, Lustica Bay
in Montenegro, and West Carclaze Garden Village in the United Kingdom. The shares of ODH are listed on the SIX Swiss
Exchange.
For more information, please visit https://www.orascomdh.com/.

Contact for Investors:
Ahmed Abou El Ella
Director of Investor Relations
Tel: +20 224 61 89 61
Mobile: +20 122129 5555
Email: ir@orascomdh.com

Disclaimer
This press release may contain forward-looking statements based on current assumptions and forecasts of ODH management.
Known and unknown risks, uncertainties, and other factors could lead to material differences between any
forward-looking statements made here and the actual development, particularly ODH's results, financial situation, and
performance. ODH accepts no responsibility for updating or adapting forward-looking statements to future events or
developments.

End of Inside Information  
Language:     English 
Company:      Orascom Development Holding AG 

Gotthardstraße 12
6460 Altdorf
Switzerland

Phone:        +41 41 874 17 17 
Fax:          +41 41 874 17 07 
E-mail:       ir@orascomdh.com 
Internet:     www.orascomdh.com 
ISIN:         CH0038285679 
Valor:        A0NJ37 
Listed:       SIX Swiss Exchange 
EQS News ID:  1937209 

End of Announcement EQS News Service
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1937209 02-Jul-2024 CET/CEST

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END) Dow Jones Newswires

July 02, 2024 01:00 ET (05:00 GMT)