orascom development holding ag · 2013 year of foundation development of taba heights on the gulf...

Orascom Development Holding AG

October 2015

2

Agenda

ODH: Leading Developer of Fully Integrated Towns

Projects Overview

Performance, Strategy and The Opportunity

Operational and Financial Summary

Appendices

Page 4

2

Page 46

Page 11

Page 17

Page 34

3

ODH : Leading Developer of Fully Integrated Towns

4

Over 20 years ago, Orascom Development’s founder Samih O. Sawiris had a simple idea – to create a little piece of paradise on the exquisitely desolate Red Sea coast. This initial thought evolved over the years and became our principle.

1989

1991

1997

EGYPT

1998

2005

2006

2007

2008

2009

2010

2013

Year of Foundation

Development of Taba Heights on the Gulf of Aqaba (Sinai Peninsula)

The Cove in Ras Al Khaimah (U.A.E.) the first destination outside of Egypt, a lease agreement with the Gov. to develop Amoun Island, 22,000 m2

Project announcement of Haram City (Egypt), Jebel Sifah & Salalah Beach (Oman); signing of agreements for Andermatt (CH) & Chbika (Morocco)

New projects in Cornwall (UK) & Luštica Bay (Montenegro) & launch of Makadi Bay, 28 km away from Hurghada

Samih O. Sawiris becomes majority shareholder of ASA; sale of Romania project to Samih O. Sawiris & Orascom Hotel Management (OHM) was established to manage the Group’s Hotel inventory

First phase of El Gouna flagship project becomes operational

Agreement to participate in the development of Tala Bay, Jordan & Awarded 1.2 million sqm in Fayoum, Egypt

Orascom signs development agreements with the Omani Government for four projects

Established ODH, acquired 99.7% of OHD through a tender offer Headquarter is moved to Altdorf (CH), listing on the SIX Swiss Exchange

Initiation of affordable housing project in Constanta (Romania) & Allocated 0.8 million m2 in the Qena Governorate , the second budget housing project in Egypt

So far, we have successfully implemented this concept in Egypt, Jordan, UAE, Oman, Switzerland and in other projects under development in Europe

2014

Deconsolidation of Orascom Housing Communities (OHC)& its subsidiaries; budget housing and construction & Sale of CMAR (Mauritius Club Med)

INTERNATIONAL EXPANSION

History- How it all started

2015

ODH sells 15% stake in OHD to reactivate its trading, resumption of trading effective 6th

January 2015 & Sale of Tala Bay hotel in Jordan

5

One of The Largest Land Banks 100.2 million sqm, out of which 68.4 million sqm is still undeveloped

3 to 5 Star Hotels To suit differentstandards

Continuous Progress on Strategy ExecutionAchieved all communicated targets of 2014

49AwardsDuring 2014 for our hotels in Egypt, Jordan & Oman

The Only Leading Developer of Fully Integrated TownsIncluding Real Estate, Hotels. activities, marinas Leisure, golf courses, hospitals , schools & all supporting infrastructure

Dual listing on SIX and EGXwith 28,543,147 outstanding shares

Approx. 9,380Employees

Fully Integrated Town DevelopersIntegrated destinations, offering hotels, residential units and luxury leisure

Spearheaded by a seasoned Executive Management Teamwith unparalleled expertise in the travel , tourism and real estate sector level

MORE THAN

Over 25YEARS

DEVELOPMENT EXPERIENCE

One of The Largest Hotels Portfolio31 hotels, 21 self-managed and 10 Under Management

Loyal ShareholderBaseBeen with the company for over 6 years

79%Of our hotels in Egypt are certified with Green Star

9 Operating DestinationsEl Gouna, Taba Heights, Makadi, & Haram City (Egypt) , Jebel Sifah & Salah Beach (Oman), The Cove (UAE), Andermatt (Switzerland) & Lustica Bay (Montenegro)

Other destinations in different stages of development

Real Estate Sales

of CHF 1.96 BnSince 1997

Orascom Development Holding AG Today

6

1,144

2,365

2,707

0 500 1,000 1,500 2,000 2,500 3,000

Qena Gardens

Fayoum

Haram City

Makadi

Taba Heights

El Gouna

0.8

0.69

0.18

2.92

1.69

21.28

(1.0) 4.0 9.0 14.0 19.0 24.0

Qena Gardens

Fayoum

Haram City

Makadi

Taba Heights

El Gouna 84.7%

-

0 0 0 1 1 1

Lušt ica6.48

- 5.0 10.0

Lušt ica

0.1

0.0 0.5

Andermatt

12.0

- 5.0 10.0 15.0

Chbika

90.91%

0.1

0.0 0.2

Andermatt

0.3

- 0.5

Lušt ica

-

0.08

0.32

-

0.02

1.2

- 0.5 1.0

Qena Gardens

Fayoum

Haram City

Makadi

Taba Heights

El Gouna

56.95%

35.25%

63.1%

83.8%

105

0 100 200

Andermatt

0.07

0.17

0.0018

0.0

5.48

- 0.5 1.0 1.5 2.0 2.5 3.0 3.5 4.0

Qena Gardens

Fayoum

Haram City

Makadi

Taba Heights

El Gouna

-

- 0.2 0.4 0.6 0.8 1.0

Chbika

0.0

0.25

1.93

0.47

2.56

8.96

- 1.0 2.0 3.0 4.0 5.0 6.0 7.0 8.0 9.0 10.0

Qena Gardens

Fayoum

Haram City

Makadi

Taba Heights

El Gouna

0.8

1.08

2.6

3.39

4.27

39.92

- 5.0 10.0 15.0 20.0 25.0 30.0 35.0 40.0

Qena…

Fayoum

Haram City

Makadi

Taba Heights

El Gouna

63%

53%

73%

49%

70%

0.1

0.2

4.5

11.0

- 5.0 10.0 15.0

City Walk

As Sodah Island

Jebel Sifah

Salalah Beach

0.1

1.0

6.2

13.6

- 5.0 10.0 15.0 20.0

City Walk

As Sodah…

Jebel Sifah

Salalah Beach

-

-

-

0.2

- 0.5

City Walk

As Sodah Island

Jebel Sifah

Salalah Beach

1.3

- 1.0 2.0

Andermatt -

- 0.2 0.4 0.6 0.8 1.0

Andermatt1.5

0.0 5.0

Andermatt

0.02

0.0 0.2 0.4 0.6 0.8 1.0

Lušt ica

-

0.8

1.5

1.5

- 0.5 1.0 1.5 2.0

City Walk

As Sodah Island

Jebel Sifah

Salalah Beach

-

-

0.2

0.9

- 0.5 1.0

City Walk

As Sodah Island

Jebel Sifah

Salalah Beach

0.1

- 0.1 0.1 0.2

Luš

tica

-

0.0 0.2 0.4 0.6 0.8 1.0

Chbika

0.3

0.0 0.5 1.0

The Cove

-

0.0 0.2 0.4 0.6 0.8 1.0

Eco-Bos

Completed

346

0 200 400

The Cove

-

0 0 0 1 1 1

Andermatt

73%

-

-

79

482

0 200 400 600

City Walk

As Sodah Island

Jebel Sifah

Salalah Beach

70%

Land Bank (mn sqm) Hospitality Portfolio

Total Land Bank

Egypt

Oman

Morocco

Montenegro

Switzerland

UK

Rooms Operated by ODH

Hotel Blended Ownership %

ODH Blended Ownership %

-

-

79

82

0 50 100

City Walk

As Sodah Island

Jebel Sifah

Salalah Beach

15.0

- 5.0 10.0 15.0 20.0

Chbika -

0 0 0 1 1 1

Chbika -

0 0.2 0.4 0.6 0.8 1

Chbika

6.9

- 2.0 4.0 6.0 8.0

Luštica

-

0 0.2 0.4 0.6 0.8 1

Andermatt

6.54

- 5.0 10.0

Eco-Bos -

0 0.2 0.4 0.6 0.8 1

Andermatt

0.3

0.0 1.0 2.0 3.0 4.0

The Cove -

0 0.2 0.4 0.6 0.8 1

The Cove

35.25%

50%

70%

55%

75%

Under Construction2

-

- 0.2 0.4 0.6 0.8 1.0

Chbika

-

- 0.2 0.4 0.6 0.8 1.0

Eco-Bos

-

0.0 0.2 0.4 0.6 0.8 1.0

The Cove

Under Development3

3.0

- 0.5 1.0 1.5 2.0 2.5 3.0 3.5

Chbika

-

0.0 0.2 0.4 0.6 0.8 1.0

Eco-Bos

-

0.0 0.2 0.4 0.6 0.8 1.0

The Cove -

0.0 0.2 0.4 0.6 0.8 1.0

Marina Plaza

Undeveloped

6.54

- 5.0 10.0

Lušt ica

4

Number of Rooms

1

1

1

1

1

1

1

100.22 16.89 6.02 8.82 7,632 4,32568.49

-

5

ODH’s Projects at a Glance

1 Leasehold agreement2 Any plot of land where infrastructure is completed and individual elements of the projects are under construction3 Any plot of land where infrastructure is under construction but not yet completed4 283 rooms are located in Makadi Project, while the 1,344 rooms are located within the Makadi Bay and 27 of Oberoi Zahra is a floating hotel on the Nile) 5 American call option (ending 2030) granting ODH the right to purchase part or all of the land plot. The company has donated 0.06 sqm of total land to the Cornwell council in 2014 to build a road

1,654 4

70%

70%

73%

49%

UAE

1,113

2,706

-

-

-

1,538

1,513

0 100 200 300 400 500 600 700

Qena Gardens

Fayoum

Haram City

Makadi

Taba Heights

El Gouna

-

0 0.2 0.4 0.6 0.8 1

Lušt ica

7

New destination

identification acquisition &

initial concept

Hotel Operations

Real Estate

Support Functions

Operational Phase

Development Phase

Real Estate Owner Services

Destination Operations

Hotel Development

Destination Development

Land Bank Monetization

Man

agem

ent

Pro

cess

es

Sup

po

rt P

roce

sses

The Company Adopts a Unique, Vertically Integrated, Business Model Centered on Transforming Desolate Pieces of Land into Attractive, Self-sufficient, Resort Towns

ODH’s business model incorporates owning and managing the whole value chain from the raw land acquisition to developing & operating real estate, hotels, and managing the destination:

– Securing land at nominal costs

– Control of entire value chain from master planning and construction to operation of a destination

– Continuous pre-sales to finance ongoing investments

In parallel, management has recently adopted the new strategic notion of selling large plots of land to third party developers, in a move to accelerate the monetization of land (Master-development), while providing strict development guidelines, to ensure control over the development and maintain the architectural harmony of the destination

Master-development

Controlled Sale of Large Plots of Land to

Third Party Developers

8

Business segments- Overview

1 From 1997-1H 2015 (gross number)2 Including all company support funcitions in Egypt, Oman, Morocco and Montenegro3 Land Revenues of CHF 42.6 mn

Andermatt (Switzerland)

Tamweel; Financial Services Company

Master Development (ODM. Egypt)

820 retail outlets & 87 restaurants/bars

5 schools & universities

2 hospitals & 7 marinas, 4 golf

1,216 employees 2

Destination Management

Public services &infrastructure maintaenance that includes:

Water Services

Sewage treatments

Electricty

1,955 employees

Hotels

31 Hotels , total of 7,632

rooms

21 self managed, 10 under-

management

Orascom Hotels Management

(OHM) manages company’s

hotel inventory

5,200 employees

Revenues 1H 2015CHF 58.5 mn

Real Estate

Land bank acquired at nominal costs

Sale of middle-to-upper scaleapartments and villas to private clients

In-house sales force as well as international distributionchannels

Off-plan sales with customerprepayments

Sales of CHF 1.97 Bn 1

108 employees

Revenues 1H 2015 CHF 41.1 mn

Revenues 1H 2015 CHF 6.8 mn

Revenues 1H 2015 CHF 58.1 mn 3

Land Sales & Other Investments

http://www.orascomhd.org/C7/OD/Image Library/El Gouna - Red Sea/High Resolution/EG Marina Lifestyle.jpg

http://www.orascomhd.org/C7/OD/Image Library/El Gouna - Red Sea/High Resolution/EG Marina Lifestyle.jpg

9

Agenda


Projects Overview



Appendices

Page 4

Page 22

Page 28

Page 11

Page 17

Page 34

10

Projects Overview

11

El Gouna - OHD’s Flagship Project , World Class Destination on the Egyptian Red Sea Coast

El GounaKey Facts

Visitors Breakdown by Nationality

El Gouna Draws Most of its Clientele from Europe... Destination Update during 1H 2015 + Other significant events post the results

Increasing sales through diversifying the product mix, timelyoffering of serval products to serve different clientele

Launched Joubal & Joubal Lagoon; new real estateresidence/neighborhood projects, both sold out.

Finalizing the construction of Ancient Sands hotel in El Gouna,to launch in Dec 2015

Launched ElGouna-FTI new joint-marketing campaign

In Sep Advanced signed a new sub-development agreementover 100,000 m2 for USD 20 million

2014

Global Green Town – El Gouna

Global Human Settlements

Award

Total land area : 36.92 million sqm , Developed: 14.44 million sqm, (39.2% developed)

Number of hotels and rooms: 16 hotels with 2,706 rooms ( four 5 *s , eight 4 *s and three 3*s)

A private , self-sufficient town of over 25,000 permanent residents built on 10 km of the Red Seacoastline and located north of Hurghada, 35km from the Hurghada International Airport

The town offers a range of facilities such as a hospital, two 18-hole championship golf courses, three marinas, four schools, a library, and two universities branches

Hotel KPIs, CHF Real Estate KPIs

69 5354 52 52 47

91

51

59

47 48 49

74%

56% 61%54% 59%

65%

0%

10%

20%

30%

40%

50%

60%

70%

80%

0

20

40

60

80

100

2010 2011 2012 2013 2014 1H2015

ARR TRevPar Occ. Rate

83.5

24.8 19.4 34.948.7

60.3

3.42.8

2.32.5 2.5 2.5

0.0

1.0

2.0

3.0

4.0

0

20

40

60

80

100

2010 2011 2012 2013 2014 1H 2015Value of Contracted Units, CHFmn

Average Price/sqmNo of Units

, CHF 000’s

* Others include: Polish, Dutch, Italians and Scandinavians

61 82 121211 47 150

10% 9% 10% 9%7% 4% 6%

12% 8% 9% 6%6% 5% 6%

29%32% 27% 28%

25% 28% 25%

17% 19%16% 19%

13% 18%38%

19% 20%29% 29%

48% 40%

22%

0%

20%

40%

60%

80%

100%

120%

2009 2010 2011 2012 2013 2014 1H 2015

Egypt

Germany

Others

UK

Belgium

France

Russia

12

Taba Heights – Sinai’s Premium Destination

Taba Heights

Key Facts


Taba Heights Draws Most of its Clientele from Europe... Destination Update during 1H 2015

Total land area : 4.27 million sqm, Developed: 2.56 million sqm, (60% developed)

Number of hotels and rooms: 6 hotels; 2,365 rooms (five 5* s and one 4 *s)

Taba Heights is situated between the mountain ranges of the Sinai Peninsula only 25km awayfrom Taba International Airport

The town offers a marina and a golf course alongside a wide range of facilities such as a medicalcenter, child daycare services, a school, and a vibrant up-town center

Hotel KPIs, CHF

Travel bans and strict warnings on Sinai continued to impact hotel operations .

During the 1H 2015, Taba operated at 50% of its capacity. 3 hotels were shutdown.

* Others include: Polish, Jordanians Scandinavians and Italians

5% 10% 5%12% 7%

18% 18%7%6%

10%

11% 12%9%

8%8% 7%

6% 5% 11%

25%

10%18%

17%

20% 24%

15%

14%

10% 11%

8% 10%

21%

25%24% 23%

21%27% 41%

29%30% 24% 27%18%

10%

0%

20%

40%

60%

80%

100%

120%

2009 2010 2011 2012 2013 2014 1H 2015

UK

Others

Israel

France

Egypt

Belgium

Russia

Germany

46

50

5344

28

42

69

52 48

3718 16

74%

51%44%

41%

29%

17%

0%

10%

20%

30%

40%

50%

60%

70%

80%

0

20

40

60

80

2010 2011 2012 2013 2014 1H2015


13

4834 30

40 33 28

74

36 40 38 39 39

84%

55%63%

51%61% 64%

0%

20%

40%

60%

80%

100%

0

20

40

60

80

2010 2011 2012 2013 2014 1H 2015


Makadi - The First Gated Community In The Heart Of Hurghada

Makadi Key Facts


Hotel KPIs, CHF

Real Estate KPIs

Total land area : 3.39 million sqm, Developed: 0.47 million sqm , (15% developed)

Number of hotels and rooms: One 4* hotel with 283 rooms + two 4 * & 5 * AzurHotels in Makadi with a total of 830 rooms (Royal Azur, a 5 star Hotel (491 rooms) &Club Azur, a 4 star Hotel (339 rooms)

Makadi is the first gated community in the Hurghada region, only 30km away from Hurghada International Airport

The town resort features residential units and hotels, along with spacious commercial area, a medical center, a school, among other services

63.7

3.9 2.3 2.2 3.0 0.8

584

591

621

595 599

646

540

560

580

600

620

640

660

0

20

40

60

80

2010 2011 2012 2013 2014 1H 2015

Value of Contracted Units, CHFmn

Average Price/sqmNo of units

, CHF

1,752 96 54 52 57

* Others include: Polish, Italians, Scandinavians and Swiss

16

Signed two new contracts in Makadi destination with an external developer (Tara Egypt), tomanage the destination’s existing retail outlets and build its club house facility (for CHF 1.9 mn)

Granting Tara Egypt exclusive management of the destination’s existing retail outlets, list ofpotential rentals include: (Drinkies, Ocean Super market, Gelato, Five hear (Italian Bistro) etc..)

Finalizing an agreement with an external developer and a reputable school to manage thedestination school and offer a national and international system

Reviving the Destination

9% 12% 14% 12% 15% 9% 17%

11% 12% 11% 13% 6% 16%

32%12% 12% 14% 12% 17% 15%

11%

56% 55% 53% 57% 57% 57%37%

0%

20%

40%

60%

80%

100%

120%

2009 2010 2011 2012 2013 2014 1H2015

Russia

Egypt

Germany

France

Others

Belguim

UK

14

Byoum – The Heart of Fayoum, On Lake Qarun

ByoumKey Facts

Total land area : 1.08 million sqm, Developed: 0.4 million sqm , (36% developed)

Number of hotels and rooms: One 4* hotel with 62 rooms (20 hotel rooms and & 42 hotelapartments, expected to be launched in Q1 2016

located 100 km southwest of Cairo in an ideal location overlooking the spiritual lake of Qarun. Plansare set to develop two luxury residential communities

Sales started in 2008, till today we have sold 154 units with a total value of CHF 33million

Finalizing the construction of Byoum Hotel, to belaunched during 1Q 2016

Reviving the Destination

1. Byoum Main Gate 5. Beach Club

2. 4 Star Hotel 6. Marina

3. Hunting Lodge 7. Commercial Area

4. Pier

Master Plan

15

The Cove – A Highly Rated 5-Star Beachfront Getaway for Leisure and Relaxation

Taba Heights

Key Facts

Visitor's Breakdown by Nationality as of 1H 2015 Destination Update until the 1H 2015

Total land area : 0.3 million sqm

The resort encompasses:

−A 346 room five star hotel managed by Rotana, an acclaimed operator in MENA and worldwide−188 villas−An employee residential compound comprised of 78 apartments;−A commercial center; and−A ~12,225 sqm vacant land plot, which is well positioned for various development options

ODH’s Management intends on converting the employee housing compound into an apartment hotel,which will serve as an extension, adding 78 keys (~155 rooms) to the hotel’s capacity

Hotel KPIs, CHF

169139

161 160 161 157188 182

215 217 203 192

63% 77% 81% 81% 75% 70%

0%10%20%30%40%50%60%70%80%90%

0

50

100

150

200

2010 2011 2012 2013 2014 1H 2015


• Awarded the Luxury Coastal Resort Continent Winner-2014 World Luxury Hotel Awards

• Awarded the RTK Hotel Award 2014 as one of the Top 100 Hotels for RTK Travel Agents in Germany

• Finalizing the construction of 145 new rooms to be added to the hotel’s inventory and expected to be launched by December 2015

30%

48%

5%

3%14% United Arab Emirates

Germany

Switzerland

Austria

Others

* Others include: Russian, British Swedish and French

16

Jebel Sifah- A Tranquil Haven

Jebel Sifah

Key Facts

Visitors Breakdown by Nationality as of 1H 2015 Destination Update during 1H 2015

Opened the floating fuel station on the marina

Progressing with the Golf Course construction, completed its design andrough shaping & finalized 5 holes out of the first 9 holes

Infrastructure completed in the main resort boulevard and different villazones including water plumping, electrical linkage and landscape

Opened “Extra Divers” dive center

Total land area: 6.2 million sqm , Developed: 0.2 million sqm, (3.2% developed)

6 hotels (1,062 rooms), of which the Sifawy Boutique Hotel is already operational, with a capacity of79 rooms. Four Seasons , Banyan Tree Hotels & Resorts & Anatara, among other players, areexpected to operate hotels in Jebel Sifah

Located between the marine life rich Indian Ocean and the breathtaking Hajjar Mountains (thehighest in the Arabian Gulf), Jebel Sifah is a charming resort town located 30km from the OmaniCapital’s city center

The town will encompass 950 residential units, including already 18 completed apt blocks, Inland marina, a 18-hole championship golf courses designed by Peter Harradine, commercial centers


106 111 116 119136

52

7682

81 88

25%

33%

27%

31% 32%

0%

5%

10%

15%

20%

25%

30%

35%

0

50

100

150

2011 2012 2013 2014 1H2015


7.4

10.5

5.73.6 4.0

2.5 2.5 2.4 2.9 2.2

0.0

0.5

1.0

1.5

2.0

2.5

3.0

0

2

4

6

8

10

12

2011 2012 2013 2014 1H 2015Value of Contracted Units, CHFmn

Average Price/sqmNo of Units

, CHF 000’s

12 5 515 15

52%

10%

8%

6%

4%

20%Oman

Germany

Switzerland

France

United Kingdom

Others

* Others include: Italian, Belgium, American and Austrian

17

Salalah Beach – A Self-sufficient Tropical Oasis on the Arabian Sea

SalalahBeach

Key Facts

Visitors Break Down by Nationality Destination Update until 1H 2015

Opened Rotana 5 star hotel with 400 rooms in Dec 2014

Finalizing the construction of El Fanar Hotel which includes 220 roomsplanning to launch in Dec 2015.

Water Park is a new addition to the town which will serve real estate owners,hotel guests and Salalah residents.

The arrival of the first Italian charter to the destination in collaboration withAlpi Tour in Dec 2014

Implemented the Sale and Leaseback system at Al Fanar Project with 45 offplan units

Total land area: 13.6 million sqm , Developed: 1.1 million sqm, (8.1% developed)

7 hotels (1,800 rooms), of which the Juweira Boutique Hotel and Rotana are already operational,with 82 rooms and 4001, respectively. Mövenpick and Club Med are expected to open theirdoors, each operating ~395 rooms

The town will encompass, residential units, 200 berth marina; the Marina Town where 42 shopsare already operating, commercial centers and a water park

The destination is located only 25km away from Salalah Airport and approximately 90 minutesflight from most GCC countries


128113

141

93

74

9599

85

39%

47%

47% 48%

0%

10%

20%

30%

40%

50%

60%

0

50

100

150

2012 2013 2014 1H2015


5.9 3.7 3.7

10.3

0.9

2.22.0

2.4

4.03.5

0.0

1.0

2.0

3.0

4.0

5.0

0

2

4

6

8

10

12

2011 2012 2013 2014 1H 2015

Value of Contracted Units, CHFmn

Average Price/sqm

No of Units

, CHF 000’s

9 41 420 8

32%

24%

15%

2%2%

25%

Germany

Italy

Oman

Switzerland

United Arab Emirates

Others

* Others include: Swedish, British, American and Austrian

18

Lustica Bay – Montenegro

Lustica Bay Key

Facts

Located in Montenegro on the Adriatic Sea, with a land bank of 6.9 mn sqm

The land is held on a leasehold agreement for 99 years starting 2009. The company starting 2014will pay an annual rent fee of EUR 1mn per year for a period of 10 years

The project is planned to include 1,820 residential units, 7 hotels with a total capacity of 1,200rooms and two world-class marinas with an operating capacity of 226 berths, 18-holechampionship golf Course (Gary Player Signature Course),

Construction started in Sep 2013. In less than two years, Lustica is now an operating destination &an emerging new town with residents moving in their homes in the summer of 2015

Real Estate KPIs

No of Units

First two buildings clusters (10 buildings comprising 70 apartments) have been fully finished and delivered inAugust, with residents moving in the summer of 2015

The foundation of the next two buildings & first Villa clusters have started, with planned completion dates in Q42016 and Q2 2017.

80% of the main marina works have been completed, with an expected operating date of March 2017

Excavation works for the Golf Course is completed and the construction permit has been obtained (the first GolfCourse permit in Montenegro)

Design works for the first Marina Hotel is done, with an expected operating date of summer, 2017 for the firstphase and the rest by summer, 2018

Emerging New Town

, CHF 000’s

15.419.1

22.0

1.5

4.1

4.34.4 4.5

3.9

4.0

4.1

4.2

4.3

4.4

4.5

4.6

0

5

10

15

20

25

2012 2013 2014 1H 2015Value of Contracted Units, CHFmn

Average Price/sqm

414843 3

19

Chbika1

Located South of Agadir on the Atlantic Ocean, Chbika has a total land bank of 15mn sqm splitinto two phases with land areas of 5mn sqm and 10mn sqm, respectively

Chbika’s plan encompasses mix of villas apartments and mansions, in addition to 3 hotels witha total capacity of 1,000 rooms

In 2014, negotiations started for raising the needed funds to develop the 3 hotels in addition tofinishing the marina and the first 9 holes of the golf course

Overview

1 ODH owns 3.0 mn sqm in Phase 1, and is currently in talks to acquire the remaining 2.0 mn sqm. Phase 2 is not owned by ODH, however, the government has expressed interest to allocated the land to the Company provided that it meets certain minimum building obligations2 American call option (ending 2030) granting ODH the right to purchase part or all of the land plot

Other Projects

Overview

Eco-Bos2

Located in the UK, Eco-Bos is one of four projects to receive the ‘Eco-town’ accreditation The project, comprising seven land parcels, includes the redevelopment of 700 hectares of

former industrial land, developing 5,500 new homes and creating over 5,000 jobs Designed to deal with dispersed rural travel and deliver a highly sustainable transportation

network Low Carbon Communities, Building energy and resource efficient homes with computer-based

technologies to efficiently manage energy and water resources

Andermatt

Overview

Andermatt Swiss Alps is a first-rate holiday destination with a land bank of 1.5mn sqm offeringbroad activity and lifestyle pursuits

The project is planned to include 490 apartments, 25 exclusive villas, and 6 hotels with acapacity of 844 rooms and a ski arena

In Dec 2013, ASA opened its first 150-room, 5-star deluxe hotel operated by The ChediAndermatt

Mr. Samih Sawiris has become the new majority shareholder of ASA with a 51% share byconverting his loans to the Group into ASA equity, ODH now is owns 49% and ASA isdeconsolidated from the Group’s financials

20

Agenda


Projects Overview



Appendices

Page 4

Page 22

Page 46

Page 11

Page 17

Page 34

21


22

Growing Core Business & Accelerating Land Development and Monetization

Real Estate Addressing marketing needs through:

Developing more efficient units Increasing inventory mix to address different

market segment Focusing on adding value added amenities

that add to the destination experience andvisitor spend

Adopting a sub-development model wherebyland is developed by third parties under strictdevelopment guidelines, signed two deals to datewith total value of USD 80 million

Hotels Established a fully owned hotel management

company, OHM Revisited all hotel management agreements

to assess the cost-benefit case by case Developed a yield system to increase early

booking and improve cash flow planning Centralized key functions across destinations

and hotels

Continued Progress on Strategy Execution; Focusing on Growing Core Business & Maximizing Efficiency

Cost Savings & Maximizing Efficiency

Debt Reduction & Restructuring

Focus on value-adding Investments

Reduced FY 2012 cost base by CHF 50 mn at FY 2014

Optimizing cost base inproportion to targetrevenue levels

Restructuring theorganization making itleaner and more efficientthrough reducing unneededSG&A expenses

Headcount reduced byapprox. 4,000 FTE sinceyear-end 2012

Divestiture ofunderperforming assets(construction & low incomehousing)

Renegotiated procurementdeals to reduce cost ofgoods sold in the hotelssegment

Reduce total debt by CHF 92.1 mn (EGP 700 mn)

ODH sold 15% stake inOHD for CHF 64mln &successfully sold 12.5% ofCMAR for CHF 9.9mln,proceeds will directly go toservicing OHD’s debt

Rescheduled principal andinterest payments forOrascom Hotels andDevelopment

Working on a club deal topool short term debt into acombined long term loanwith rescheduled principleand interest payments

Divesting Non Core Assets

Red Sea Construction

Orascom HousingCommunities

CMAR, Club Med Hotelin Mauritius

Business Model Optimization and Organizational Development

23

ODH financial results back on track

56 59 65 57 60 57 56 52 53

020406080

2008 2009 2010 2011 2012 2013 2014 1H 2014 1H 2015

Contracted sales (CHF mn)

TRevPAR (%) 1

8162

7656 57 51 51 44 51

0

50

100

2008 2009 2010 2011 2012 2013 2014 1H 2014 1H 2015

8169

87

57 61 51 48 40 49

0

50

100

2008 2009 2010 2011 2012 2013 2014 1H 2014 1H 2015

336

136 173115

213

66 88 70

0

100

200

300

400

2008 2009 2010 2011 2012 2013 2014 1H 2015

668

317 297152 204

265 182

0

200

400

600

800

2008 2009 2010 2011 2013 2014 1H 2015

2.63.2

4.4

5.36.9

2.5 2.62.3

0

2

4

6

8

2008 2009 2010 2011 2012 2013 2014 1H 2015

Number of units sold

Average selling price (CHF’000’/m2)

Occupancy rate (%)

Average room rate (CHF)

1 Total Revenue per available room

* Revenues and KPIs of Citadel Azur, five –stars hotel with 513 rooms was added back to ODH’s hotel portfolio in FY14, post the settlement reached with Falcon Hotels

24

New & Ongoing Real Estate Launches

25

Egypt , El GounaJoubal Projects

Project Description Built on carefully crafted elevated land & designed to give residents a panoramic view of their surroundings. From different levels; residents can see the marina, the sea, and the mountains.

Key FactsLaunch Date September 2015

Type Villas & Twin Villas

Project Area (sqm) 19,400

Footprint (sqm) 1,304

Total BuA (sqm) 2,561

No of units 13

Inventory value, USD 7,350,000

Sales Plan 1 Years

Final Delivery September 2018






No of units 31


Sales Plan 1 Years


Joubal Views Joubal Lagoons Joubal Golf






No of units 27


Sales Plan 1 Years


26

Egypt , El GounaWater Side Condos and Sabina Twin Villas

Water Side Condos Sabina Twin Villas

Key Facts Location El Gouna, Egypt

Launch Date December 2015

Product type Apartments

Total Project Area (sqm) 49,614


Total BUA (sqm) 20,900

No of units 176

Inventory value 39,312,901

Sales Plan 2 years

Final Delivery December 2019

Apartment Blocks, targeting Egyptian young families, offeringaffordability , function-ability & exclusivity, overlooking a unique water feature.

Key Facts Location El Gouna, Egypt

Launch Date September 2015

Product Type Twin Villas

Total Project Area (sqm) 33,454


Total BUA (sqm) 4,704

No of units 30


Sales Plan 1 years


Inspired from Nubian like design with a new modern edge,using earth colors , designed to give residents the luxury ofspace and privacy of their own pools and gardens.

27

OmanSalalah Beach

Ongoing RE Launched Projects since

Al Fanar Hotel

Four Star Hotel, with 218 rooms & Suits

Designed by renowned Italian designerSandro Serapioni, offers a unique blend ofcontemporary design and serene Arabianarchitecture.

Out of the 218 rooms, 70 are planned to besold and leased back

To date, 45 out of those 70 rooms are soldwith an average selling prices of USD 635per m2

Type Al Fanar Apartments


No of units 38

Inventory value, OMR 3,866,500

Avg Price/m2 (OMR) 1,850

Type Villa


No of units 72


Avg Price/m2 (OMR) 915

28

OmanJebal Sifah

Key FactsType Villa


No of units 46


Average Selling Price/m2 (OMR) 922

Key Facts

Type Apartment


No of units 19


Average Selling Price/m2 (OMR) 1,200

Finalizing the construction of the 9 holes for the Planned 18 hole PGA golf Course designed by Peter Harradine

29

Launch Date July 2013

Type Villa



No of units 4

Inventory value, EUR 9,200,000

Sold to date (%) 50%

Sales Plan 2 Years

Final Delivery Q4, 2018

Launch Date July 2013

Type Apartment



No of units 45

Inventory value, EUR 17,157,915


Sales Plan 1 Year


Launch Date June 2014

Type Apartment



No of units 43



Sales Plan 1 Year


MontenegroLustica Bay

Ongoing RE Launched Projects since

Planned Hotel Investment Project

Marina Hotel• Five Star hotel with a total capacity of 110 rooms• Out of the 110 rooms, 60 rooms will be offered for sale as condo apartments.• The 60 condo units will be part of the hotel rental pool (infinite period of time)

against a revenue share of the rooms revenues.

30

Corporate286

Hotels112

Advanced Negotiations For An Optimum Debt Refinancing Package

1 Figures are as of ODH Financial Statements of 1H 2015

2 Sum of LTD and CPLTD, excluding Tamweel and adjustment and illuminations of CHF 4.0 mn at the Group level

Total Debt Breakdown by

Entity (CHF mn) 1

Total debt by currency

( %,) 1

Loans Runoff(CHF mn) 2

Net Debt Build-up

(CHF mn) 1

Management iscurrentlyundergoing arestructuringprogram in aneffort to de-leverOHD’s balancesheet down tonormalized levels

The Company isplanning to paydown ~EGP 700mn (CHF 92.1 mn)of which thecompany hadalready paid EGP270 mn (CHF 35.5mn) for capitalizedinterest and pastdues and isnegotiating withbanks toreschedule EGP1,049 mn (CHF 130mn) in overdrafts

397

68

55 51 52

12 10 10 5

0

10

20

30

40

50

60

70

80

90

100

2015 2016 2017 2018 2019 2020 2021 2022

37%

40%

7%16%

EGP USD EUR Others

130

172

95

68 465 102

363

-

50

100

150

200

250

300

350

400

450

500

Overdrafts LTD CPLTD Tamweel Total Debt Cash Net Debt

30.06.15 31.12.14

Weighted average cost of debt (%)1 7.3 7.6

31

225

172

78 18493

392

Short termdebt

Long termdebt

shareholdersloan

LandLiabilities

Total Debt Cash Net Debt

(101)1

240 56 296

OHD Net Debt Other Projects' Net Debt ODH Consolidated Net Debt

343

291247

96

0

50

100

150

200

250

300

350

400

ODH Market Cap OHD Market Cap ODH PropotionalteStake in OHD

Other Projects's Equityvalue

Net Debt Breakdown

by Entity (CHF mn)

ODH Net Debt

Build-up (CHF mn)

Equity Value

Analysis(CHF mn)

1

2 3

The Market Values ODH’s Other Projects at a Deep Discount to Book

These figures represent the net BV3 of each of ODH’s Other Projects,totaling CHF 458 mn. This implies a deep discount (CHF 362 mn) to theequity value derived by the market

Other Projects’

Book Value

Other Projects’

Equity Value

Market Implied

Discount

Analysis of Current Market Prices Suggests that ODH’s Other Projects are Attractively Priced

202

87

5634

3615

14 14 458

96

362

1 Excludes debt held on Tamweel; the company’s leasing arm2 As of June 30th , 20153 Net BV represents equity value + quasi-equity; which are amounts due to ODH and expected to be capitalized at a later stage

4 This represents the total consideration at which Cape Citadel (a 5-star hotel on the Red Sea Coast) was priced according to a legal dispute between ODH and Falcon

2

1

32

Agenda


Projects Overview



Appendices

Page 4

Page 22

Page 46

Page 11

Page 17

Page 34

33

Operational And Financial Summary

34

-40-52

-81

105

37.9

2011 2012 2013 2014 1H 2015

57 45751 48 49

56% 57%

51% 51% 52%

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

0

10

20

30

40

50

60

70

80

90

100

2011 2012 2013 2014 1H 2015

115

216

6688 70

5.26

2.34

2.52 2.632.38

0.00

10.00

20.00

30.00

-

100.0

200.0

300.0

2011 2012 2013 2014 1H 2015

182

ODH weathered through some turbulent times and is emerging strong after the storm…

* OHC was deconsolidated in 2014, and hence, was excluded from our figures retrospectively

…Translating into Enhanced Financial Performance

EBITDA(CHF mn)

Contracted Units, Average Selling Price(Units, CHF )1 TRevPar, Occupancy Rates

(CHF, %)

Number of Contracted Units

152 271 204 265

Average Price / sqm, CHF 000’s

Value of Contracted Units, CHF mn

With the recentpolitical stability,start of aneconomic recoveryin general andrevival of thetourism sector inparticular, ODHstarted benefitingthrough increasedReal Estate Sales &Hotel revenues

The Company’srestructuringefforts over thelast period arealready bearingthe fruits of itssuccess throughgenerally positivefinancial indicators

Revenue (CHF mn)

254 272221 251

165

2011 2012 2013 2014 1H 2015

TRevPAR Occupancy Rate

35

Business Segments 1H 2015

Revenue EBITDA Adjusted EBITDA1

(CHF mn) 1H 2015 1H 2014 Δ in % 1H 2015 1H 2014 1H 2015 1H 2014

Hotels 58.5 48.8 20% 6.0 2.6 6.3 3.7

Real Estate & Construction 41.1 49.5 (17%) 12.5 17.0 9.5 15.8

Land 42.6 0.8 5225% 40.8 (0.2) 42.3 0.5

Destination Management 6.8 6.7 1.5% (1.7) (2.7) (1.5) (1.3)

Other Operations 15.5 14.8 4% 4.5 14.3 4.2 6.0

Corporate & Unallocated Items - - - (24.2) 31.5 (13.8) (14.0)

ODH Group 164.5 120.6 36% 37.9 62.5 46.9 10.7

1 Adjusted EBITDA: EBITDA adjusted for non cash items (which includes provisions & impairments, other gains and losses, FX gains & share in associates)

36

Real Estate KPIs 1H 2015

Value of contracted units (CHF mn)

Number of contracted units

Average selling price (CHF/m2)

Value of deferred Income (CHF mn)

Country Destination 1H 15 1H 14 1H 15 1H 14 1H 15 1H 14 1H 15 1H 14

Egypt El Gouna 60.3 18.1 150 40 2,541 2,302 80 31

Fayoum 0.2 - 1 - 590 - 3 4

Makadi 0.8 1.3 16 28 646 583 1 2

Gardania 1.8 - 3 - 1,262 - - -

Oman Jebel Sifah 4.0 2.2 5 3 2,200 2,778 18 28

Salalah Beach 0.9 0.1 4 - 3,512 - 14 12

Montenegro Luštica Bay 1.5 8.8 3 23 4,495 4,410 30 36

ODH Group 69.5 30.6 182 94 2,379 2,345 145 113

Numbers net of cancellations:

ODH Group 42.2 24.5 138 71

37

Deferred Revenue Recognition Schedule, CHF mn

Country Destination Deferred Revenue

Balance2H 2015 2016 2017 2018 2019

Egypt El Gouna 80.4 11.4 33.7 32.7 2.5 -

Fayoum 3.2 0.7 2.5 - - -

Makadi 0.6 0.2 0.4 - - -

Total Egypt 84.2 12.3 36.7 32.7 2.5 -

Oman Jebel Sifah 17.6 3.3 0.8 1.9 0.6 11.0

Salalah Beach 13.5 9.8 0.5 2.2 1.1 -

Total Oman 31.1 13.0 1.3 4.1 1.7 11.0

Montenegro Luštica Bay 29.6 6.0 14.0 4.4 - 5.2

ODH Group Total Group 144.9 31.4 52.0 41.2 4.1 16.2

38

Real Estate Performance Update

Successful outcome resulting from the first implementationsof the new real estate strategy in Egypt, with preliminaryresults being witnessed during 2Q15.

Net sales in El Gouna in 2Q15 alone increased by 233% toreach CHF 60.3 mn vs. CHF 18.1 mn in 2Q14

Cash Collections from the new sales in 2015 to date reachedEGP 88.8 mn

El Gouna, Egypt, Launching new inventory of USD 50 million

during 3Q and 4Q 15.

Makadi, Egypt, signed two new contracts with an external

developer for EGP 15 mn (CHF 1.8 mn) to manage the

destination’s existing retail outlets and build its club house

facility.

Fayoum, Egypt finalizing the construction of the sold villas, to

be delivered in 1Q16

Lustica Bay, Montenegro, held the official launch party in

August recognizing the successful completion & handover of

first 10 apartment buildings marking the destination’s start of

operations.

Jebel Sifah, Oman launching phase 1 (9-holes) of the Sifah Golf

course

Launch Date October 2014

Inventory units 111

Inventory value ,USD 46.5 million

Sold 90%

Final Delivery October 2016

Launch Date March 2015

Total Inventory units 92

Inventory value, USD 36.9 million

Sold 91%

Final Delivery March 2017

Joubal Joubal lagoons

Jebel Sifah, Golf CourseLustica Bay, Apt Buildings

39

Hotel KPIs 1H 2015

Number of hotel rooms

Occupancy rate (%)

ARR (CHF)

TRevPar (CHF)

Country Destination 1H 15 1H 14 1H 15 1H 14 1H 15 1H 14 1H 15 1H 14

Egypt El Gouna 2,706 2,706 65 55 47 48 49 42

Taba Heights 2,365 2,365 17 21 42 26 16 13

Others Red Sea *1,627 1,117 64 51 28 31 39 31

Floating Hotels 27 27 11 3 509 402 78 19

Oman Jebel Sifah 79 79 32 27 136 123 88 74

Salalah Beach 481 481 48 24 93 100 85 41

U.A.E The Cove 346 346 70 77 157 156 192 205

ODH Group 7,632 7,121 52 44 53 52 49 40

* Citadel Azur , five – stars hotel with 514 rooms was added back to ODH’s hotel portfolio, post the settlement reached with Falcon Hotels

40

Hotel KPIs 2Q 2015

Number of hotel rooms

Occupancy rate (%)

ARR (CHF)

TRevPar (CHF)

Country Destination 2Q 15 2Q 14 2Q 15 2Q 14 2Q 15 2Q 14 2Q 15 2Q 14

Egypt El Gouna 2,706 2,706 68 60 48 49 52 46

Taba Heights 2,365 2,365 23 18 42 20 23 9

Others Red Sea *1,627 1,117 74 45 29 33 44 29

Floating Hotels 27 27 14 3 409 341 89 17

Oman Jebel Sifah 79 79 29 27 128 108 75 69

Salalah Beach 481 481 26 14 89 108 47 26

U.A.E The Cove 346 346 73 78 144 154 189 203

ODH Group 7,632 7,121 56 44 50 53 51 40

* Citadel Azur , five – stars hotel with 514 rooms was added back to ODH’s hotel portfolio, post the settlement reached with Falcon Hotels

41

Hotels performance update

The successful tour operating commitment deals along with the new yielding strategy & pricing protocol introduced in 2014afforded 18% increase in occupancy rates in 1H15 over 1H14, in spite of the security challenges in Egypt

The new launched marketing campaign between FTI & El Gouna, resulted in 80% growth in FTI’s room-night in 2Q15 over 2Q14

El Gouna Hotels’ online sales in 1H15 recorded a 63% increase in total revenue and a 20% increase in room rate over 1H14

A notable boost in the performance of Makadi Hotels with a 200% increase in the hotel’s GOP during 1H15 over 1H14

Italian business represents 21% of the total Omani Hotels’ business and is the destination’s second producing market withapproximately 11,000 room nights in 1H15

Progressing with the development of the Ancients Sands Hotel in El Gouna ,Egypt, Al Fanar Hotel in Salalah Beach, Oman, andthe Cove Rotana extension in Ras Al Khaima . UAE. The 3 properties are due to launch between Dec15 and 1Q 16

Launched El Gouna-FTI new joint-marketing campaign facilitating an 80% growth in FTI’s room-night in 2Q 2015

42

1H 2015 1H 2014

Revenue 164.5 120.7

Cost of sales (114.7) (104.4)

Gross profit 49.8 16.3

Gross profit margin 30.3% 13.5%

Profit / (loss) before tax 7.6 35.5

Income tax expense (4.7) (5.5)

Non-controlling interests 1.1 1.5

Net profit / (loss)attributable to ODH shareholders 4.0 31.5

Summary Income Statement

30.6.15 31.12.14

Property, plant and equipment 788.2 886.8

Inventories 268.1 305.6

Receivables 172.7 146.9

Cash and bank balances 102.1 100.7

Total assets 1,669.6 1,781.0

Borrowings 464.9 531.7

Payables 42.6 60.0

Other Liabilities 338.8 368.1

Total Equity 823.3 821.2

Selected Balance Sheet Items

Snap Shot - Income Statement And Balance Sheet 1H 2015 , CHF Million

43

Agenda


Projects Overview



Appendices

Page 4

Page 22

Page 46

Page 11

Page 17

Page 34

44

Appendices

45

Hotels Portfolio

46

El Gouna - Hotels Map

47

*****420 Rooms

A luxury guesthouse directly set on thenorthern shores of Mangroovy Beachand its kitesurfing stations. Abrainchild of an antiques collector, thehotel offers seclusion making it anideal hideaway for luxury seekers.

An upscale beachfront resort offeringa relaxing atmosphere combined witha lavish selection of on-groundfacilities from diving to kitesurfing,world renowned Angsana Spa outletand a nearby professional 18-hole golfcourse.

An award winning architectural mix ofArabian and Egyptian styles by theinternationally renowned MichaelGraves. The beachfront resort is builton nine islands surrounded by gardensoffering mouthwatering cuisine, privatebeaches, outdoor heated pool, andwater sports.

*****

339 Rooms

268 Rooms

A stylish Nubian oasis exclusivelysituated on El Gouna’s Championship18-hole golf course. Complemented bystunning architecture, breathtakinglandscapes, sparkling lagoons, the hotelis home to a spa and fitness center forultimate serenity and rejuvenation.

Be it an absolute romantic holiday or ablend of romance and action, this 4-starhotel de charm is the spot. Boasting hemost relaxing views of the New Abu TigMarina coupled with some special treatsfor an unforgettable romantic holiday,the Adults Only hotel is minutes awayfrom El Gouna’s northern beaches.

****54 Rooms

*****

*****

12 Rooms

A family-oriented hotel featuring colorfulhillside accommodations reminiscent ofTuscan homes, select villas spread around aswimming lagoon, as well as deluxeseafront rooms benefiting from primeviews over the hotel’s sheltered bay. Hotelguests have exclusive access to the privateBellevue Beach

*****134 Rooms

48

A beachfront resort with an allinclusive program. The 4-star hotel isbuilt along a virgin beach expanse ofa protected bay. Club-style animationand a myriad of sports activities makeit a perfect choice for active families..

A charming Adults Only authentic hotelfashioned to reminiscent an UpperEgypt’s Mayor’s mansion in its mostromantic setup. The hotel iscomplemented by superb interiordesign, a private lagoon beach and isadjacent to El Gouna’s lively Downtownarea.

The 4-star all inclusive resort managedby a family-owned Belgian hotel chain.Offering unparalleled Red Sea holidaysfor families with children, the resorts’unique architectural design iscomplemented by lush landscapedgardens

Capturing the essence of Egypt with itswinding alleys and stunning features,the hotel overlooks El Gouna’s lagoonsand offers a tropical garden setting inthe heart of the town with easy accessto the vibrant Tamr Henna Square.

****234 Rooms

****

239 Rooms

****66 Rooms

The Three Corners Ocean View offers a 4-star all inclusive experience in an Adults-Only environment. The hotel is home totwo unique clusters, Le Soleil and DuPort, each offering a unique atmospherewith one overlooking the seafront andthe other with fabulous Marina views

****

434 Rooms

****115 Rooms

****69 Rooms

Overlooking the New Abu Tig Marinawith direct access to El Gouna’s northernbeaches, Mosaique Hotel is ideal for sunand adventure seekers. The ultra four-star hotel boasts cool décor, modernflair and amenities tailored to theconvenience of its guests

49

Directly overlooking the Abu Tig Marinapromenade, minutes away from thebeach, the 3-star Captain’s Inn is one ofEl Gouna’s most sought after smallhotels welcoming divers, kitesurfers, andpartygoers.

With only 28 guestrooms in the beautifulAbu Tig Marina, Turtle’s Inn is one of ElGouna’s most sought-after addresses.This modern hotel offers tastefullyfurnished rooms, refreshing style, andpersonalized service.

***28 Rooms

In the heart of the Abu Tig Marina withthe most luxurious views and the mostconvenient accessibility! Famed for itsterrace, Ali Pasha’s nightly beauty iscomplemented by the delicacies servedat the town’s only Indian Restaurant,Tandoor.

***67 Rooms

Arena Inn offers all the amenities and comforts of a holiday resort with a private swimming pool and beautifully designed waterfront restaurant. Hotel guests enjoy access to a full-service beach.

***

50 Rooms

***

177 Rooms

50

Taba Heights- Hotels Map

51

*****

426 Rooms

Beautifully framed by the pristinenatural environment, award winningarchitect Michael Graves created thebeachfront resort as a paint box ofcolors and quirky shapes of Egyptianvaults and dome village styledarchitecture. Home to 3 swimmingpools and a saltwater lagoon with itsown beach, eight restaurants, a widearray of leisure facilities, the town’sonly Casino

Consisting of three separate structureslinked by tropical garden pathways andresting on a prime waterfront location,the resort offers breathtaking views ofthe sea, pool and desert mountains. Thehotel offers 10 restaurants and bars,exclusive entertainment and with itsstate-of-the-art conference facilities, thehotel is the perfect business retreat.Swimming pools and a fully equippedhealth club.

The 4-star all inclusive resortmanaged by a family-owned Belgianhotel chain. Offering unparalleledRed Sea holidays for families withchildren, the resorts’ uniquearchitectural design is complementedby lush landscaped gardens

****394 Rooms

A signature Club Med Resort in the heartof Sinai. Providing exceptionalopportunities to discover the region’sfamous attractions, the unique Resort isset on a beautifully preserved baycovering 27 hectares, flanked by a 600yard stretch of private beach offering anideal site for exploring the fabulousunderwater life of the Red Sea

*****503 Rooms

The beachfront resort is situated onover 44 acres of lush gardens,2800sqm of pools and waterfalls withover 500sqm of pristine private beachand houses seven exclusive diningoutlets, a private Spa, a Steam Room,Swedish Sauna treatments and Jacuzzi.

*****442 Rooms

*****385 Rooms

Capturing the essence of Egypt withits winding alleys and stunningfeatures, the hotel overlooks ElGouna’s lagoons and offers a tropicalgarden setting in the heart of thetown with easy access to the vibrantTamr Henna Square.

****215 Rooms

52

Located at Makadi bay, one ofHurghada’s fascinating shores, 25kmaway from Hurghada Internationalairport, the All Inclusive beachfrontresort overlooks its own spaciousprivate sandy beach, offering sevenrestaurants & bars, a fully equippedwatersports center, two tenniscourts, a squash court, billiards, afully equipped fitness room and 2swimming pools.

Only 25km away from HurghadaInternational airport, thebeachfront resort is easilyaccessible offering sevenrestaurants & bars, a fullyequipped watersports center, twotennis courts, a squash court,billiards, a fully equipped fitnessroom and 2 swimming pools

*****

491 Rooms

****339 Rooms

****287 Rooms

Ideally located only a fewkilometers away from Hurghada,Sahl Hasheesh and Safaga; theAdults Only Azur Makadi GardensHotel provides easy access tomost of the Red Sea’s world-classwaterfront destinations withclustered facilities with its sisterhotels Royal Azur and Club Azur.

Makadi is settled in the heart of the Red Sea tourism hub located only 25 kilometers away from Hurghada International Airport and just a short drive from the bustling shopping and dining venues of Hurghada and SahlHasheesh. Featuring a variety of residential units, hotels, commercial and entertainment areas, as well as all the supporting infrastructure and services, Makadi allows individuals and families to benefit from a more active lifestyle.

53

Its ideal location at the entrance of the emirate made the development a regional investment and leisure attraction. Extending over about 300,000 sqm, The Cove overlooks 600m of private beach and comprises an internationally renowned 5-star hotel operated by Rotana, exclusive real estate, and a range of upscale services and amenities. State-of-the-art leisure and urban facilities are within easy reach as the development is in close proximity to two golf courses, several shopping malls and supermarkets, international schools and hospitals of international standard.www.thecove-uae.com

*****

283 Rooms

Located on an idyllic water inlet on the Ras AlKhaimah beachfront overlooking the ArabianGulf with 600 m of pristine beach, the CoveRotana encompasses a number of Villas thatareideally designed to accommodate families of agroup of friends. With a Nubian touch in theirdesign, the Villas are well-crafted andaesthetically designed to offer comforts thatyou would expect of a 5-star resort and muchmore. From spacious Living rooms, privateterraces, spectacular views of the Arabian Gulfto the lagoon or lush green hills, each of theVillas are designed to anticipate and cater toyour every need

54

Jebel Sifah, Orascom Development’s third biggest town, is only an hour away from the Muscatcity center stretching across 5 km of beachfront. Jebel Sifah boasts a planned 950 residentialunits, an18-hole PGA golf course, and an 84-berth inland marina surrounded by a picturesquemarina town.Orascom Hotel Management currently operates the Sifawy Boutique Hotel, and further plansto develop five 5-star hotels including some of the world’s most prestigious brands, amongthem the Four Seasons. Restaurants, cafés, luxuriously-appointed spas, and boutiquesfeaturing the latest fashion complete the town’s offerings.www.jebelsifah.com

****

67 Rooms

Designed by renowned Italian designer Alfredo Freda, the Sifawy Boutique Hotel is ideally located only 45 minutes away from the capital city of Muscat in the heart of the picturesque marina town.

55

Offering a spectacular landscape of fertile plains, fresh water springs, and lush coconut

trees enhanced by the monsoon during the summer, Salalah Beach is the Group’s first

and the region’s only tropical destination. Located on the southern part of Oman,

Salalah Beach is a large family-oriented complex boasting over 8 km of beachfront on

the Arabian Sea as well as a man-made lagoon system extending the sea inland. Once

fully developed, it comprises high-end luxury apartments and villas, restaurants and

cafés, shopping and retailoutlets, hotels - ranging from boutique to five-star beach

resorts, a 200-berth inland marina, as well as two 18-hole PGA golf courses.

*****

399 Rooms

A newly opened hotel offering a unique holiday experience

capitalizing on the Rotana’s understanding and hospitality

expertise, the upscale hotel’s Omani-inspired architecture

features a series of clusters surrounding the main building,

housing major public facilities and amenities.

Nestled on the picturesque marina promenade of Salalah Beach and

facing the Indian Ocean, the hotel offers traditional lifestyle and values

expressed in the glowing architecture and aromatic food along with the

scents of frankincense and sandalwood. Among the recreational

facilities are 2 large swimming pools, a state-of-the-art wellness centre

and intimate guestrooms

*****

82 Rooms

56

Shareholders by TypeShareholders by Country Shareholders Breakdown

Share Information

No. of Registered Shares: 14,001,730

No. of Dispo Shares: 14,541,417

Market Capitalization**: CHF 343.94 mn

Reuters Code: ODHN.S

Index: SPI Index

* As of 31.08.2015 ** As of 20.09.2015

ODH Shares - Shareholding Structure*

51%

20%

13%

10%

6%

Dispo Shares Cayman Islands

Egypt Switzerland

Other

31%

18%

51%

Institutional Retail Dispo Shares

63%

5%

32%

Samih Sawiris

Janus Capital Management LLC

Free Float

57

Shareholders by TypeShareholders by Country Shareholders Breakdown

Share Information

No. of Registered Shares**: 186,428 mn

Reuters Code: ODHR.CA

ODH EDR - Shareholding Structure*

67%

18%

15%

SOS Institutional Other Retail

81%

12%

6% 1%

Egypt UK KSA Other

* As of 30.06.2015 ** Implying a conversion ratio of 20:1, where 20 EDRs in Egypt are equivalent to 1 registered share in Switzerland.

67%

8%

4%2%1%

18%

Samih Sawiris

OIM PROJECTS LIMITED

DELLCREST CORPORATION

First Arabian Development & InvestmentCompanyArab Investment

Free Float

58

Income StatementAll figures are in CHF mn, unless otherwise noted

2010 2011 2012 2013 2014 1H 2015

Egypt 383 208 211 161 179 117

Oman 84 6 18 15 30 19

UAE 29 27 30 29 27 13

Others 20 15 14 17 14 16

Total Revenues 516 256 272 221 251 165

Cost of sales (310) (208) (219) (187) (188) (102)

Depreciation Expense (30) (28) (30) (28) (25) (13)

Gross Profit 175 20 23 6 37 50

% Margin 34% 8% 9% 3% 15% 30%

Administrative expenses (58) (81) (66) (71) (45) (19)

Investment income 12 12 6 5 4 3

Other gains and losses 19 (13) (33) (39) 93 (4)

Finance costs (7) (8) (9) (31) (33) (17)

Share of profit of associates (2) (5) (1) (10) (9) (5)

Profit / (Loss) before tax 141 (76) (79) (140) 47 8

% Margin 27% (30)% (29)% (63)% 19% 5%

Income tax expense (19) (0) (11) (21) (11) (5)

Profit / (Loss) from continuing operations 122 (76) (90) (160) 36 3

% Margin 24% -30% -33% -72% 14% 2%

Profit / (Loss) from discontinuing operations - - (11) (7) - -

Total income statement 122 (76) (101) (167) 36 3

Non-controlling interests 27 (7) (4) (10) (6) (1)

Owners of the Parent Company 95 (70) (97) (158) 42 4

Total income statement 122 (76) (101) (167) 36 3

Finance costs 7 8 9 31 33 17

Income tax expense 19 0 11 21 11 5

EBIT 148 (68) (82) (116) 80 25

% Margin 29% -27% -30% -52% 32% 15%

Depreciation Expense 30 28 30 28 25 13

EBITDA 178 (40) (52) (88) 106 38

% Margin 35% -16% -19% -40% 42% 23%

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Balance Sheet

All figures are in CHF mn 2010 2011 2012 2013 2014 1H 2015

Cash & Bank Balances 276 79 102 73 101 102

Net Receivables 159 137 95 52 96 88

Due from Related Parties 24 45 18 17 37 45

Inventories 260 478 499 357 306 268

Other Current Assets 130 88 82 62 114 112

Total Current Assets 849 828 795 562 654 615

Property, Plant and Equipment 926 969 1,003 767 887 788

Investment Property 78 76 79 10 12 11

Goodwill 8 8 7 7 7 6

Investment in Associates 35 29 19 104 112 104

Long-Term Receivables2 108 102 94 33 84 93

Other Non-Current Assets 88 70 85 42 25 52

Assets Held for Sale2 - - - 150 - -

Total Assets 2,093 2,083 2,083 1,673 1,781 1,670

Trade and Other Payables 57 58 50 30 37 25

Borrowings2 241 282 324 198 274 251

Due to Related Parties 3 6 17 16 3 2

Current Tax Liabilities 16 6 5 3 6 4

Provisions 57 90 79 96 83 73

Shareholders’ Loan 28 23 9 39 69 78

Other Current Liabilities 138 181 251 157 158 137

Total Current Liabilities 540 645 735 550 631 570

Land Liabilities 36 32 32 26 23 18

Borrowings2 271 254 279 211 258 214

Other Non-Current Liabilities 54 58 60 46 48 44

Liabilities Held for Sale2 - - - 79 - -

Total Liabilities 900 990 1,106 911 960 846

Minority Interest 198 241 236 219 200 218

Shareholders' Equity 996 853 740 543 621 605

Total Liabilities & Equity 2,093 2,083 2,083 1,673 1,781 1,670

1 The drop was due to the deconsolidation of OHC2 The fluctuations in those accounts from 2012 – FY 2014, are due to the reclassification of CMAR and Tamweel as “Assets Held for Sale” in 2013, before reversing the reclassification of Tamweel and retaining it in 9M 2014

60

Board Of Directors

Samih SawirisChairman and CEO of ODH

After receiving his Diploma in economic engineering from the Technical University of Berlin in 1980, Mr. Sawiris founded his first company, NationalMarine Boat Factory. In 1996, he established Orascom Projects for Touristic Development and in 1997 Orascom Hotel Holdings, the two companies latermerged to form Orascom Hotels & Development S.A.E. (OHD). Furthermore, Mr. Sawiris established El Gouna Beverages Co. in 1997, which he sold in2001 when it was the largest beverage company in Egypt. Mr. Sawiris now serves as chairman and CEO of Orascom Development.

Eskandar ToomaCFO of ODH

Dr. Tooma is a tenured professor of finance and holds the British Petroleum endowed chair with the School of Business at The American University inCairo. He combines academic experience with practical exposure through assuming a variety of public and private professional posts. He was senioradvisor to the Egyptian Capital Market Authority for 3 years, as well as a member of a variety of committees including the EGX30 Index Committee,Market Advancement Committee at the Egyptian Stock Exchange, an advisor and member of the Derivatives and Commodities Exchange Committeewith the Ministry of Investments and an advisor to the Ministry of International Cooperation on Egypt’s Debt Swap Experience. Mr. Tooma sits on theboard of two EGX listed and actively traded companies:

Adil DouiriNon-Executive Member

Mr. Douiri is the founding shareholder and CEO of Mutandis, a Moroccan investment company established in 2008. Mr. Douiri served in His MajestyKing Mohamed VI’s Government as Minister of Tourism (2002-2004) and later as Minister for Tourism, Crafts & Social Economy (2004-2007). In 1992 Mr.Douiri founded Casablanca Finance Group (later renamed CFG Group), the country’s first investment bank. Until 2002 he acted as chairman of itssupervisory board and is still a board member. He is also a board member of BMCE Bank, the third largest Moroccan commercial bank, and MFEx, aStockholm based technology company serving the financial industry. Mr. Douiri graduated as an engineer from the Ecole Nationale des Ponts &Chaussées (ENPC) in Paris.

Franz EgleNon-Executive Member

Mr. Egle’s background is in strategy development, corporate communications, media and PR. After holding senior positions in the private sector he wasin charge of communications at the Swiss Federal Department of Foreign Affairs and advisor to the Minister of Foreign Affairs (1993-1998). Before co-founding Dynamics Group, a Swiss company providing strategic consulting, communication management and research analysis, Mr. Egle was a partnerof Hirzel. Schmid.Nef Konsulenten, a communication and financial consultancy firm (1999- 2006). Mr. Egle holds a Doctor’s degree in sociology from theUniversity of Zurich. Dynamics Group, where Mr. Egle is a Senior Partner, has been retained by the Group to provide services in the field ofcommunications

61

Carolina Müller-MöhlNon Executive Member

Ms. Müller-Mohl has been President of the Müller-M hl Group since 2000. From 1999 to 2000, she was Vice Chair of the Board of Directors of Müller-Mohl Holding AG, after working as a journalist and advertising and PR consultant. She is currently the chairperson of Hyos Invest Holding AG. Aftergaining an International Baccalaureate at Upper School Salem International College (Germany), Ms. Müller-Mohl studied politics, history, and law theUniversity of Heidelberg and at the Otto-Suhr Institut at the Freie Universitنt Berlin. She graduated with a Master’s degree in political science andcompleted further studies at the London School of Economics and at the Europainstitut of the University of Basel.

Jürgen Fischer Non Executive Member

Mr. Jurgen Fischer, is founder of „The Pearl Management Consultants“ in Dubai, United Arab Emirates. Previously he was CEO of Dubai Properties LLC,a major Real Estate Developer in the UAE. During his time with Dubai Properties he oversaw several Theme Park and Tourist projects. Between 1995and 2008 Jurgen Fischer held several senior positions with Hilton International. Prior to joining Hilton, he worked for the Walt Disney Company indifferent roles in Florida and Paris including Vice President Sales & Marketing for Disneyland Paris and Director of Resort Development at DisneylandParis. Mr. Fischer graduated from the Ecole Hôtelière Lausanne, Switzerland and obtained an MBA with Honors from IMEDE/IMD, Lausanne in 1988

Marco SieberNon Executive Member

Mr. Sieber studied economics at the Business School in Lausanne. After graduating with a business degree, in 1989 he took over the family ownedcompany SIGA Ltd. together with his brother. Mr. Sieber managed to transform SIGA Ltd. into a company which operates internationally and which hasover 300 employees. SIGA Ltd. develops and produces products for the construction sector, namely in the field of energy-saving sealings. In 2012, Mr.Sieber also became majority shareholder in Baertschi Agrartecnic Ltd. Since 2011, Mr. Sieber is an active investor in the soccer club FC Lucerne (FCL)and since 2013 he is president of the FCL Holding.

Jürg WeberNon Executive Member

Jürg Weber holds a MBA and a Major in Finance and Strategic Planning from the Wharton School, University of Pennsylvania. Mr. Weber previouslystudied Civil Engineering at the School of Engineering in Switzerland and Microeconomics and English at the University of California, Santa Barbara. Mr.Weber is the founder and owner of the “Golden Horn Management”, Ukraine. Previously, Mr. Weber was CEO of “Boyner Holding”, Turkey, a Partnerat McKinsey & Company and an Assistant Vice Chairman in “UBS Philips & Drew”. Mr. Weber is currently serving as member of the Board of Directorsof „AVIVA Sigorta A.S:“, „KRON TELEKOMÜNIKASION HIZMETLERI A.S.“, „GREAT TURK FUND LTD.“ in Turkey, and „BENSYS HOLDING“, Holland.

Board Of Directors

62

Samih SawirisChairman and CEO of ODH

After receiving his Diploma in economic engineering from the Technical University of Berlin in 1980, Mr. Sawiris founded his first company, NationalMarine Boat Factory. In 1996, he established Orascom Projects for Touristic Development and in 1997 Orascom Hotel Holdings, the two companies latermerged to form Orascom Hotels & Development S.A.E. (OHD). Furthermore, Mr. Sawiris established El Gouna Beverages Co. in 1997, which he sold in2001 when it was the largest beverage company in Egypt. Mr. Sawiris now serves as chairman and CEO of Orascom Development.

Eskandar ToomaCFO of ODH

Dr. Tooma is a tenured professor of finance and holds the British Petroleum endowed chair with the School of Business at The American University inCairo. He combines academic experience with practical exposure through assuming a variety of public and private professional posts. He was senioradvisor to the Egyptian Capital Market Authority for 3 years, as well as a member of a variety of committees including the EGX30 Index Committee,Market Advancement Committee at the Egyptian Stock Exchange, an advisor and member of the Derivatives and Commodities Exchange Committee withthe Ministry of Investments and an advisor to the Ministry of International Cooperation on Egypt’s Debt Swap Experience. Mr. Tooma sits on the boardof two EGX listed and actively traded companies:

Abdelhamid AbouyoussefODH Chief Hotel Officer

Eng. Abouyoussef started his career in design and installation of hotel electro-mechanical systems in 1998.He soon moved to project management inhotel construction, in addition to being the owner’s representative at Amphoras Holiday Inn, Sharm El Sheikh. He now has his own company, ShoresHotels currently managing 1,600 rooms across Egypt. He also founded a travel agency that handles over 100,000 tourists per year

Eng. Abouyoussef helped develop Orascom Hotels Management, a JV between ODH and Shores, to manage OHD’s entire hotels portfolio, and otherhotels on the ODH level

Eng. Abouyoussef received his B.S. in Mechanical Engineering from the American University in Cairo and a Masters of Science degree from theUniversity of California at Berkeley

Executive Management Team

63

IR dashboard

Investor Relations Contact:

Sara El GawahergyHead of Investor RelationsTel Dir +20 (0)22 461 89 61Mobile EGY: +20 100 2185651Mobile CH: +41 41 874 1711sara.elgawahergy@[email protected]/en/investor-relations

mailto:sara.elgawahergy@orascomdhcom

mailto:[email protected]

http://www.orascomdh.com/en/investor-relations

orascom development holding ag · 2013 year of foundation development of taba heights on the gulf...

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