EQS Group-Ad-hoc: Orascom Development Holding AG / Key word(s): 
Miscellaneous/Miscellaneous 
Orascom Development Holding AG largest subsidiary in Egypt, Orascom 
Development Egypt (ODE) Board of Directors convened to approve the sale of 
its stake in 'New City Housing & Development' formerly 'Orascom Housing 
Communities' for an amount of CHF 7.3mn 
 
14-Dec-2020 / 07:00 CET/CEST 
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 AG's largest subsidiary in Egypt, Orascom 
Development Egypt (ODE) Board of Directors convened to approve the sale of 
its stake in "New City Housing & Development" formerly "Orascom Housing 
Communities" for an amount of CHF 7.3 million.* 
 
Altdorf, December 14, 2020 - Orascom Development Holding (ODH) is pleased to 
announce that its largest subsidiary in Egypt, Orascom Development Egypt 
(ODE) Board of Directors held on December 13, 2020; approved the sale of its 
35.25% stake in *"New City Housing & Development"* previously known as 
*Orascom Housing Communities (OHC)* a subsidiary of Orascom Development 
Egypt (ODE), for an amount of CHF 7.3 million. 
 
The divestment of this non-core asset comes in line with our continued 
execution of our strategy to optimize our portfolio and will enable us to 
further prioritize and reinforce efforts in our core business areas. 
 
*New City Housing & Development* previously known as *Orascom Housing 
Communities (OHC) *is the first Egyptian company to focus on the development 
of high-quality affordable housing units within sustainable and fully 
integrated townships in Egypt. *New City Housing & Development* owns two 
projects. The first was launched in 2007 the project is located in 6th of 
October, 20 km west of Cairo, and spans over approximately 2.60 million m2 
of land, and is now home to more than 40,000 residents. As a truly 
integrated development, offering a comprehensive community facility 
including schools, clinics, worship houses, sporting facilities among many 
other amenities. The second project spans over 0.8 million m2 of land in the 
Qena Governorate, Upper Egypt, and provides a high-quality affordable 
housing unit. 
 
*About Orascom Development Holding (ODH):* 
 
ODH 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. ODH's diversified portfolio 
of destinations is spread over 7 jurisdictions (Egypt, UAE, Oman, 
Switzerland, Morocco, Montenegro, and United Kingdom), with primary focus on 
touristic destinations. ODH currently operates nine destinations: four in 
Egypt (El Gouna, Taba Heights, Makadi Heights and Byoum), The Cove in the 
United Arab Emirates, Jebel Sifah and Hawana Salalah in Oman, Lustica Bay in 
Montenegro, and Andermatt in Switzerland. ODH recently launched O West, the 
latest addition to its portfolio and its first project in Cairo, Egypt, 
located on the Sixth of October City. 
 
*Contact for Investors: 
Sara El Gawahergy * 
Head of Investor Relations & Strategic Projects Management 
Tel: +202 246 18961 
Tel: +41 418 74 17 11 
Mob: +41 79 156 78 49 
Email: ir@orascomdh.com 
 
*Contact for Media Relations:* 
*Philippe Blangey* 
Partner 
Dynamics Group AG 
Tel: +41 432 68 32 35 
Email: prb@dynamicsgroup.ch 
 
*Disclaimer and Cautionary Statement* 
The information contained in this e-mail, its attachment and in any link to 
our website indicated herein is not for use within any country or 
jurisdiction or by any persons where such use would constitute a violation 
of law. If this applies to you, you are not authorized to access or use any 
such information. Certain statements in this e-mail and the attached news 
release may be forward-looking statements, including, but not limited to, 
statements that are predications of or indicate future events, trends, plans 
or objectives. Forward-looking statements include statements regarding our 
targeted profit improvement, return on equity targets, expense reductions, 
pricing conditions, dividend policy and underwriting claims improvements. 
Undue reliance should not be placed on such statements because, by their 
nature, they are subject to known and unknown risks and uncertainties and 
can be affected by other factors that could cause actual results and Orascom 
Development Holding's plans and objectives to differ materially from those 
expressed or implied in the forward-looking statements (or from past 
results). Factors such as (i) general economic conditions and competitive 
factors, particularly in our key markets; (ii) performance of financial 
markets; (iii) levels of interest rates and currency exchange rates; and 
(vii) changes in laws and regulations and in the policies of regulators may 
have a direct bearing on Orascom Development Holding's results of operations 
and on whether Orascom Development Holding will achieve its targets. Orascom 
Development Holding undertakes no obligation to publicly update or revise 
any of these forward-looking statements, whether to reflect new information, 
future events, or circumstances or otherwise. It should further be noted 
that past performance is not a guide to future performance. Please also note 
that interim results are not necessarily indicative of the full-year 
results. Persons requiring advice should consult an independent adviser. 
 
End of ad hoc announcement 
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: 1154800 
 
End of Announcement EQS Group News Service 
 
1154800 14-Dec-2020 CET/CEST

(END) Dow Jones Newswires

December 14, 2020 01:00 ET (06:00 GMT)