Egyptian billionaire Samih Sawiris transforms Andermatt with $1.2 billion luxury makeover

Key Points

• Egyptian billionaire Samih Sawiris transformed Andermatt into a premier luxury and adventure destination, featuring world-class skiing, hiking, and Michelin-starred dining.
• In December 2024, Sawiris acquired a $400 million tourism project in Essaouira, Morocco, enhancing its development and cultural appeal.
• Orascom Development’s O West sold a commercial property for $6.8 million, introducing Seoudi Supermarket to the growing community.

Egyptian billionaire Samih Sawiris has led a $1.2 billion transformation of Andermatt, turning a once-overlooked Alpine town into a premier destination for luxury and adventure. The revitalized resort now offers world-class skiing, scenic hiking trails, championship golf, and Michelin-starred dining.

Nestled in the heart of the Swiss Alps at 1,444 meters above sea level, Andermatt was once a quiet military base. Today, it attracts thrill-seekers and those looking to unwind. In summer, visitors can explore nearly 30 miles of pristine hiking trails with sweeping views of the Ursern Valley, while cyclists take on rugged mountain routes.

In winter, the landscape transforms into a snowy paradise, with 75 miles of ski slopes stretching across the Sedrun and Disentis regions—home to some of Switzerland’s finest off-piste runs. Golfers aren’t left out either; the Andermatt Golf Course, an 18-hole, par-72 championship course, winds through alpine lakes and rolling fairways framed by towering peaks.

Sawiris bets big on Moroccan tourism

Sawiris’ impact hasn’t gone unnoticed. In 2021, the Swiss canton of Uri awarded him honorary citizenship for his contributions to Andermatt’s tourism industry—making him the first foreigner to receive the honor, though it does not grant naturalization.

A member of Egypt’s influential Sawiris family, Samih is the youngest son of construction magnate Onsi Sawiris. He leads Orascom Development, a global resort developer with projects in Egypt, Montenegro, and Switzerland. His influence in tourism continues to expand—most recently in Morocco, where in December 2024, he acquired a MAD4 billion ($400 million) tourism project on the Atlantic coast.

The deal saw him take full control of SAEMOG, the company managing Essaouira Mogador, one of Morocco’s most ambitious coastal tourism developments. Essaouira, known for its UNESCO-listed medina and rich cultural heritage, is now set for a new chapter under Sawiris’ leadership.

Orascom growth continues with O West sale

Beyond large-scale tourism projects, Orascom Development is also shaping communities. In September 2024, its Egyptian subsidiary sold a commercial property within its O West development to Seoudi Supermarket for EGP332 million ($6.8 million), bringing the first supermarket to the O West community. The move enhances daily life for residents and visitors while aligning with Orascom’s broader strategy of refining its portfolio and investing in sustainable, community-focused developments.

Orascom Development Egypt operates under Orascom Development Holding, which Samih Sawiris founded in 2008 by merging Orascom Projects for Touristic Development with Orascom Hotels and Development. Now led by his son, Naguib Samih Sawiris, the company oversees a diverse portfolio of 33 hotels across seven countries, including Egypt, the UAE, Oman, Switzerland, Morocco, Montenegro, and the UK.