Orascom Development Holding AG (Orascom Development) today held its ground-breaking ceremony marking the start of construction of the Andermatt resort, the first integrated holiday resort in the alps. During this first development phase, the Chedi hotel, basic infrastructure as well as an 18-hole championship golf course will be built. It is expected to be operational by winter 2013/2014. Total investments for the entire project will be in the excess of CHF 1 billion and comprise of six hotels with 844 rooms, 490 apartments, 20-30 villas as well as considerable infrastructure and leisure facilities (golf course, sports centre, conference centre and concert hall, modernized ski installations). Sales of the real estate units are due to commence this autumn.
The Andermatt project is designed to the highest ecological standards and targets to be operated on a carbon-neutral basis. Furthermore, the centre of the resort will be totally car free to reduce emissions and pollution. Additional sustainable solutions will be achieved by environmental friendly construction processes, the creation of approx. 1000 new jobs and the long-term commitment of Orascom Development to the successful realization of the project.
This milestone was reached in a short period of time and without objections. This is evidence for ongoing support from the local community as well as close cooperation with NGO’s and environmental associations as well cautious planning by Orascom Development.
