CAIRO: Orascom Hotels and Development (OHD) said it had won Swiss government approval for a resort complex in the Swiss village of Andermatt. In a statement received on Monday, the Cairo-based company said it had obtained an exemption for the project from Lex Koller, a law which restricts foreign ownership of real estate. The project will include 600 housing units, 100 villas, several luxury hotels with a total of 800 rooms, artificial lakes, a golf course and a ski area, and will provide more than 2,000 jobs for the villagers, it added. Andermatt lies about 80 km south of Zurich. OHD shares were up 3.9 percent at LE 34.85 pounds at 1050 GMT. Reuters
OHD says it has permission for Swiss project
