Orascom Development Holding AG has held a ground-breaking ceremony to mark the start of construction of the Andermatt Swiss Alps resort, which Orascom says will be the first integrated holiday resort in the Alps.
During the first development phase, the five-star Chedi hotel, basic infrastructure and an 18-hole championship golf course will be built. It is expected to be operational by winter 2013/2014.
The developer’s total investment for the entire project will be in excess of 1 billion Swiss francs and the resort will comprise six hotels with 844 rooms, 490 apartments, 20 to 30 villas and extensive infrastructure and leisure facilities including a golf course, a sports center, a conference center and a concert hall, as well as modernized ski installations. Sales of the real estate units are due to commence this autumn.
Orascom says the Andermatt project is designed to the highest ecological standards and its target is to operate on a carbon-neutral basis. Additionally, the centre of the resort will be totally car-free to reduce emissions and pollution. Orascom is aiming for additional sustainability by using environmentally friendly construction techniques, the creation of approximately 1,000 new jobs and Orascom’s long-term commitment to realizing the project’s sustainability goals successfully.
The approval process for the construction permit for The Chedi hotel ― which was granted in mid-September ― was completed in a record time of two months, says Orascom.
The luxurious hotel will be built on a total area of 28,000 square meters and is expected to cover more than 50,000 square meters of interior area. The Chedi will offer 50 hotel rooms, 70 condominiums including six penthouses within the hotel building, 49 residences including seven lofts adjacent to the hotel, two restaurants, a lounge, several bars & pubs, and an exclusive wellness area with a state-of-the art health center.
Architectural and interior designs for the Chedi Andermatt were designed by Denniston International Architects & Planners, Ltd. The hotel will be operated by international hotel operator GHM General Hotel Management, Ltd.
Orascom Development is a developer of fully integrated towns that include hotels, private villas and apartments, leisure facilities such as golf courses and marinas, and supporting infrastructure. Orascom Development’s portfolio of projects is spread over seven countries, with a primary focus on tourism towns and affordable housing. Today, Orascom Development operates in Switzerland, Egypt, Oman, Morocco, the United Arab Emirates (UAE), Mauritius and Jordan and it continues to look for development opportunities in untapped, attractive locations all over the world.
The Group has four existing projects: El Gouna, the flagship project, a fully-fledged town on the Red Sea coast in Egypt; Taba Heights, on the Sinai Peninsula in Egypt, the group’s second tourism destination following El Gouna’s business model; The Cove in Ras Al Khaimah, UAE, the group’s first development outside Egypt; and Haram City, an integrated town dedicated to affordable housing in Egypt, catering for the mass population.
For more information on the Andermatt Swiss Alps resort (only in German so far), visit www.andermatt-swissalps.com.