Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Orascom Development Rises on Ski Apartment Sales: Zurich Mover

Orascom Development Holding AG, rose the most in more than six months after the Swiss hotel builder said that it had sold all the apartments in its Chedi Andermatt ski-resort project.

The stock rose as much as 8.2 percent, the biggest intraday advance since March 9, and was up 3.3 percent at 15.75 Swiss francs as of 11:33 a.m. in Zurich, giving the company a market value of 450 million francs ($485 million).

Orascom has sold the remaining 73 apartments at its Chedi Andermatt project for 122.7 million francs, the company said in a statement last night. The buyer was Acuro Immobilien AG, a real-estate investment vehicle in which Orascom Chairman Samih Sawiris is a minority shareholder, the Swiss construction company said.

The Chedi complex at the ski-resort of Andermatt consists of a five-star hotel with 50 hotel rooms as well as 106 apartments and 13 lofts and penthouses, according to the statement.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.