The Swiss town of Andermatt is likely to find itself in the alpine ski news a fair bit over the next few seasons. A new $1.5 billion project, by Egyptian developer Samih Sawiri, expects to have it’s first properties available by late 2013 or early 2014.

This level of investment is 3 times more than Le Village Royal (near Crans-Montana) and four times more than that at the spa resort of Buergenstock. Sawihri’s plans are to put Andermatt on a par with nearby Verbier, plans which have met with the surprising approval of Verbier’s mayor.

The land for the new development came mostly from the Swiss military, which had a huge area above in the mountains above Andermatt criss-crossed with tunnels, bunkers and other Cold War fortifications. With the military presence no longer politically necessary, nor financially viable, the land was brought by Sawhiri. For a town that has lost 20% of it’s population in the past ten years.

Andermatt currently has 20 lifts, with 125 kilomtetres of pistes on the 3,000m Gemsstock mountain. The off-piste is one of the main claims to Andermatt’s fame, with the ‘King of the Mountain;’ 4.5km long race, dropping 900m, a high point. With 2 snowparks and a halfpipe, snowboarders have also long been welcome at this little known resort.