Samih Sawiris, Chairman of Orascom Hotels and Development, said: "The UAE has captured international attention for its ambitious and clear-sighted vision in regards to new construction projects, and we are here for the same reason. UAE has also emerged as the financial as well as the construction hub of the Middle East, and Orascom has definite plans of investing in its infrastructure industry, details of which will be revealed next month."
The company has carved a niche for itself in the region as a pioneer in urban planning and development. Partnering with Katameya Heights, who introduced the concept of luxury compound-living in Cairo, together they plan to make a significant impact on the industry in the UAE.
Adding to this Sawiris said, "The upcoming project in the UAE provides a wonderful investment opportunity, backed by a huge demand and considering the boom in the construction industry this is a right time for us to invest in UAE."
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Orascom plans to tap investment opportunities in UAE
- United Arab Emirates: Monday, April 04 - 2005 at 10:20
- PRESS RELEASE
Orascom Hotels and Development (OHD), one of Egypt's largest land development companies, today announced that it is planning to develop a prime hotel/real estate property, with a unique investment opportunity in the UAE.
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About Orascom:Orascom was founded in 1950 by Mr. Onsi Sawiris with a mission to build the infrastructure and improve the quality of life for the people of Egypt. Today Orascom operates through three primary operating companies - Orascom Construction Industries, Orascom Hotels and Development, and Orascom Technologies.
Orascom Hotels and Developments (OHD), with over 30 million square meters of land under development, is the largest land development company in Egypt in terms of assets. OHD plans, constructs and develops world class destination resorts and hotels and is the primary designer and developer behind EL Gouna, Tala Bay and Taba Heights.
For further information, please contact:
Tarek Lasheen / Abhishek Savant
Bates PanGulf PR
Tel: +971-4-2953456
Fax: +971-4-2247839
Posted by Anne-Birte Stensgaard, Senior News EditorMonday, April 04 - 2005 at 10:20 UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of AME Info FZ LLC / Emap Limited.
This article was updated on Wed Mar 28 2007.
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