Egypt-based Orascom Development Holding has announced the beginning of construction of the Andermatt resort, the first integrated holiday resort in the Swiss Alps. The first development phase, during which the company will construct the Chedi hotel, basic infrastructure as well as an 18-hole championship golf course, is expected to be operational by winter 2013/2014. The entire project will comprise six hotels with 844 rooms, 490 apartments, 20-30 villas as well as considerable infrastructure and leisure facilities.