by The region offers skiing in winter and mountain hiking in summer. © Keystone / Urs Flueeler The Andermatt Swiss Alps (ASA) company, majority owned by Egyptian financier Samih Sawiris, is to build a new 1,800-bed Alpine resort in the Sedrun region in southeast Switzerland. The complex in an undeveloped area of Dieni village will include 13 buildings, including several hotels, residential buildings, shops, restaurants and leisure facilities, the company said on Friday. It puts the investment at CHF170 million (7 million). ASA’s newly founded subsidiary Dieni Development submitted a building permit application at the beginning of August, but the development plan was approved ten years ago, company officials told a press conference. The fact that the project is
Topics:
Swissinfo considers the following as important: 3) Swiss Markets and News, 3.) Swissinfo Business and Economy, Featured, Latest News, newsletter
This could be interesting, too:
Nachrichten Ticker - www.finanzen.ch writes Krypto-Ausblick 2025: Stehen Bitcoin, Ethereum & Co. vor einem Boom oder Einbruch?
Connor O'Keeffe writes The Establishment’s “Principles” Are Fake
Per Bylund writes Bitcoiners’ Guide to Austrian Economics
Ron Paul writes What Are We Doing in Syria?
The region offers skiing in winter and mountain hiking in summer. © Keystone / Urs Flueeler
The Andermatt Swiss Alps (ASA) company, majority owned by Egyptian financier Samih Sawiris, is to build a new 1,800-bed Alpine resort in the Sedrun region in southeast Switzerland.
The complex in an undeveloped area of Dieni village will include 13 buildings, including several hotels, residential buildings, shops, restaurants and leisure facilities, the company said on Friday. It puts the investment at CHF170 million ($177 million).
ASA’s newly founded subsidiary Dieni Development submitted a building permit application at the beginning of August, but the development plan was approved ten years ago, company officials told a press conference.
The fact that the project is being implemented only now is linked to recent developments, said CEO Raphael Krucker. In March, it became known that Vail Resorts, an American tourism company, had joined the Andermatt-Sedrun mountain railways, and CHF110 million are to be invested in the region’s infrastructure over the next few years.
ASA expects the building permit in December. Construction is scheduled to begin in May 2024, with the hotels and vacation apartments to open in 2027.
Martin Cavegn, president of the local municipality, said he does not expect opposition from the local villagers. Most of them back the project, he claims. He also told Swiss public broadcaster SRF that he hopes it will bring jobs and stop the exodus from the region.
Tags: Featured,Latest news,newsletter