Orascom Development Holding AG: appoints Wael Al Lawati as the New Chief Executive Officer of its Oman Destinations.

Press Release

Orascom Development appoints Wael Al Lawati as the New Chief Executive Officer of its Oman Destinations.

Altdorf, Switzerland 31 January 2023: Orascom Development Holding announces today the appointment of Wael Al Lawati as the new CEO of Muriya, including the awarding-winning communities of Jebel Sifah and Hawana Salalah.

In support of Orascom Development's ambition to be a pre-eminent, multi-national developer, Al Lawati will be responsible for setting the business agenda for the Groups Oman destinations, including leading the overall strategy in alignment with Orascom Developments strategy, facilitating delivery against the annual business plans and instilling best practices throughout these destinations. In addition, he will be an integral member of Orascom Developments Executive Committee, reporting directly to the Group CEO, Omar El Hamamsy. 

Al Lawati brings a wealth of experience and proven track record of delivering results in tourism, real estate and other sectors. As a seasoned Omani National, he has held several other leadership positions including CEO of Oman Tourism Development Company (OMRAN) and founder of The Wave Muscat (AlMouj), where he successfully led Omans first integrated tourism and real estate development. More recently, he served as COO for a real estate advisory and spearheaded international growth at DAMAC Properties. Additionally, Al Lawati was a board member of Muriya between 2008 and 2015.

Al Lawati was selected as a member of the Young Arab Leaders, a group of the top 500 Arab leaders, and was a board member of the Middle East Leadership Academy (MELA). He previously served on the boards of the Oman Society of Engineers and the Oman Society of Contractors. His engineering background coupled with Real Estate Certification from Cornell University and Executive Education at Harvard Business School, IMD and INSEAD provide him with a well-rounded profile and track record.

Omar El Hamamsy, Group CEO of Orascom Development, said, I am pleased to welcome Wael Al Lawati as our new CEO of Muriya and leading our destinations in Oman. I am confident that Wael will bring a unique perspective and his strong track of delivering results to our team. His passion for the industry and ability to lead a team will open a new chapter of growth for our Oman destinations, Jebel Sifah and Hawana Salalah.

Wael Al Lawati, CEO of Muriya, commented, I am excited to be joining the Orascom Development team and leading its Oman destinations. Jebel Sifah and Hawana Salah are among the largest integrated tourism destinations in Oman, committed to benefiting the local community and contributing to developing the Sultanate of Oman. I believe we have an exciting future in front of us as we capture growth opportunities in Oman and deliver value for our customers and partners.

Jebel Sifah and Hawana Salalah are Orascom Development's destinations in Oman, offering a wide range of activities and amenities for visitors and residents alike. Jebel Sifah features miles of sandy beaches, a boutique hotel, a coastline golf course, restaurants, and shops, while Hawana Salalah is Oman's largest integrated tourism complex and host to the Khareef Salalah Festival. Both destinations are located near international airports and provide tax-free ownership of residential units.

About Orascom Development Holding AG:

Orascom Development 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 6 jurisdictions (Egypt, UAE, Oman, Switzerland, Montenegro, and the United Kingdom), with a primary focus on tourist destinations. ODH currently operates 10 destinations: five in Egypt (El Gouna, O West, Taba Heights, Makadi Heights, and Byoum), The Cove in the United Arab Emirates, Jebel Sifah and Hawana Salalah in Oman, Lutica Bay in Montenegro, and Andermatt in Switzerland. The shares of ODH are listed on the SIX Swiss Exchange.
 

Contact for Investors:
Ashraf Nessim         
Chief Financial Officer   
Mobile: +20 122 213 1612
Tel: +41 418 74 17 11     
Email: ir@orascomdh.com     
 
Ahmed Abou El Ella         
Investor Relations Director   
Mobile: +20 122 129 5555     
Email: ahmed.abouelella@orascomdh.com     
 
Philippe Blangey  
Partner       
Dynamics Group AG
Tel: +41 432 68 32 35
Email: prb@dynamicsgroup.ch  

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