Orascom Development is in the course of developing Andermatt, a Swiss mountain town, as a comprehensive and self-sustainable Alpine resort town. Andermatt is situated at about 1,440 meters above sea level and lies approximately 120 km south of Zurich and 180 km north of Milan. Nestled in the heart of the rugged Alps, the undiscovered village of Andermatt captures the essence of beautiful Switzerland. Andermatt’s Ursern Valley location is unmatched as it serves as the crossroads for the three major mountain passes of Gotthard, Furka, and Oberalp. These unique characteristics, along with the area’s untarnished panoramic views, create an ideal vacation getaway.
The total land bank of the project amounts to approximately 1.4 million sqm. The project is planned to offer 490 apartments and 25 to 30 private villas. In addition, 6 hotels classified as 4 and 5 star with a capacity of 844 rooms are planned. It is envisaged for the hotels to be managed by leading international operators, with some of which the Group has established partnerships. Besides the existing 13 ski lifts, the resort will feature various leisure facilities including a professional 18-hole golf course, podium, sports center with all-season leisure pool and a commercial center, turning Andermatt into a year-round destination.
The Andermatt project will be developed in accordance with the highest ecological standards. Furthermore, our team works closely with local NGO's such as Mountain Wilderness, Pro Natura Uri, Switzerland's Traffic Club (VCS) and the World Wildlife Fund. Orascom Development aims to preserve the rivers and water surfaces as well as natural inhabitats. Furthermore, we plan to use a carbon-free energy supply system for the entire resort by using renewable energy sources. In addition, the planned parkting lot will offer a capacity for approximately 2,000 cars, thereby allowing air pollution and noise in the town to be reduced.
The Group has been granted an exemption from the Lex Koller legislation, which restricts the acquisition of real estate by non-Swiss residents. Pursuant to ths exemption, non-Swiss residents will be able to acquire and transfer residential property without authorization.