Two crises was one too many Orascom boss Samih Sawiris on adjustments and FTI hotel plans
Magazin • 26.2.2015 • 8967
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Two crises was one too many

Orascom boss Samih Sawiris on adjustments and FTI hotel plans

26.2.2015

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Andermatt. The mega investment by Orascom Development is now taking shape in Andermatt. Up to six new hotels, 490 apartments in 42 buildings and 25 luxury villas comprise a total investment of almost 1.5 billion Euro. Nevertheless, there were losses in 2012. These have now been covered by owner Samih O. Sawiris. He is now new majority shareholder and will cover the current cash deficit. With the move, Sawiris reaffirms his commitment to Andermatt.

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