Mediaboss Marketing

Press Release

Orascom Development appoints new Country CEO of Oman and Head of Destination Management Egypt

Effective immediately Hamza Selim, currently Chief Destination Management Officer, has been appointed as new CEO of Muriya, Orascom Development's subsidiary in Oman. The assignment underlines the Group's intention to expand its operations in Oman in the next couple of years. As a result of the change, Mr. Selim resigns from the Executive Management of Orascom Development. Moreover Amin Serag, since eight years with the Group, has been appointed Head of Destination Management Egypt to strengthen the local management team.

Altdorf/Cairo, 11 June 2013 ( the current Chief Destination Management Officer of Orascom Development Holding AG (Orascom Development), Hamza Selim, has been appointed CEO of Muriya, the Group's subsidiary in the Sultanate of Oman.

Hamza Selim joined Orascom Development in 2005. In his most recent position as Segment Head Destination Management he was responsible for the daily business of the Group's operating towns in Egypt and Oman. Mr. Selim was a former member of the Board of Directors of Muriya, the joint venture between Orascom Development (70% stake) and Omran (30% stake), a government-owned company that develops several tourism destinations in Oman.

In his new position Mr. Selim will be in charge for the country organization in Oman which includes the operating towns Jebel Sifah and Salalah Beach as well as other development projects. As a result of his appointment, Mr. Selim will resign from the Executive Management team of Orascom Development.

Additionally, Amin Serag was appointed Head of Destination Management Egypt which includes among others the towns El Gouna on the Red Sea and Taba Heights on the Sinai Peninsula. Mr. Serag remains head of Orascom Development and Management, a wholly-owned subsidiary of Orascom Development that offers development and management expertise for third-parties in addition to managing Makadi, one of the Group's destinations located near Hurghada.

Amin Serag has 18 years of experience in the fields of Real Estate, Construction, Maintenance, and Property Management and held several executive positions in well-established and multi-national companies before joining Orascom Development eight years ago.

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. Orascom Development's diversified portfolio of destinations is spread over nine jurisdictions (Egypt, UAE, Jordan, Oman, Switzerland, Morocco, Montenegro, United Kingdom and Romania). The Group currently operates six destinations; three in Egypt El Gouna, Taba Heights and Haram City, The Cove in United Arab Emirates and Jebel Sifah and Salalah Beach in Oman. Orascom Development has a dual listing, with a primary listing on the SIX Swiss Exchange and a secondary listing on the EGX Egyptian Exchange.

See the rest here:
DGAP-Adhoc: Orascom Development Holding AG: Orascom Development appoints new Country CEO of Oman and Head of ...