Swiss-Egyptian developer Orascom has announced that it will complete construction on the golf course at its Andermatt Swiss Alps resort this year.
Other elements of the project planned for 2012 include the completion of the golf clubhouse and final façade work on the resort’s hotel, the Chedi Andermatt. Orascom will also start work on the first of the villas and apartments.
The company expects to invest CHF 115 million (US$125 million) in the project this year. During 2011, revenue from sales and reservation contracts totalled CHF 103 million. CHF 22 million of reservations have already been agreed in 2012.
Andermatt’s golf course, designed by German architect Kurt Rossknecht, will be finished in the second half of the year and transferred to its operator for test rounds in 2013, before its official opening in 2014.