Gulf Hotels plans $130mn hotel in Dubai
Manama-based chain buys plot of land in Dubai's Business Bay
Manama-based Gulf Hotels Group has bought a plot of land in Dubai’s Business Bay with the intention of beginning construction on a 240-key hotel venue, and its first international venture.
Aqeel Raees, the Group’s CEO, noted: “This is a big step for us and it is very exciting for the group. This expansion outside of Bahrain will represent a 50 per cent increase in the size of our operations.”
He added they hoped to open the new facility within three to four years and were investing in the vicinity of $120-130m in the project, its restaurants, function halls and other luxury facilities.
He added: “The move follows the announcement at our annual meeting in March that we were considering buying a plot of land, so we have been pursuing this move for the last few months.”
“We were here in Bahrain before anyone else and we have been very successful. Now we are going to a market, and if we are successful we will have established ourselves as a chain, albeit a small one.”