Orascom Development, a firm with numerous projects in Egypt and other parts of the Middle East, has broken ground on a $968 million golf and ski resort project in the Swiss Alps.
The project, to be known as the Andermatt resort, will include in its first phase of development an 18-hole golf course, infrastructure and one of the six hotels planned for the resort.
Long-range plans include a sports center, conference center and concert hall, skiing facilities and apartment and villa residential units. The resort is scheduled to be operational by the winter of 2013-14.
