Al Taameer Real Estate Investment Company opens first hotel in Beruit |
|
The Ramada hotel brand enters the Middle East Kuwait City, 23 June 2008 - Al Taameer Real Estate Investment CompanyAl Taameer Real Estate Investment Company
today announced the opening of its first hospitality project in Lebanon, Ramada Downtown. Located in the central Solidere area of Beruit, the 99 room Ramada Downtown represents an USD $18 million investment for Al TaameerAl Taameer.
Mr Najeeb Al Saleh, Vice Chairman of Al Taameer Real Estate Investment CoAl Taameer Real Estate Investment Co., explained the importance of the development. "The significance of this project by Al TaameerAl Taameer is two fold. Not only is it the first Al TaameerAl Taameer development to open its doors to customers in Lebanon, it is the first realization of the Ramada brand in the Middle East after Al TaameerAl Taameer's acquisition of the exclusive master franchise from Wyndham Hotel Group International in 2007. We believe customers in the Middle East will appreciate the core concept of the Ramada experience - excellent service and value for money in the moderate accommodation sector."
Opening just as Lebanon's summer season commences, Mr Al Saleh expects that the hotel, which also contains restaurants, meeting rooms & business facilities, will attract business & leisure travelers alike.
Al TaameerAl Taameer also announced the acquisition of the franchise for Ramada's three star brand, Ramada Encore, a well known brand name with strong back-up support, unique design emphasising cleanliness, efficiency and consistency. The company expects to develop properties under the same brand in other markets in the near future.
In addition, Al TaameerAl Taameer continues search for other promising acquisition opportunities across the region, particularly those properties which are currently undergoing intensive due diligence in Morocco and Egypt.
-Ends-
About Al TaameerAl Taameer Real Estate Investment Company
Established in Kuwait in 1978, Al Taameer Real Estate Investment CompanyAl Taameer Real Estate Investment Company currently holds capital of KD 24,000,000 and assets of KD 46,688,289 as of the financial year ending Dec.2007. Al TaameerAl Taameer is the exclusive franchise holder for the Ramada brand in Egypt, Lebanon, Morocco, Libya, Jordan, Iraq and has recently added the Ramada Encore brand to its portfolio. Company activities encompass buying and selling shares of Real Estate Companies, consulting on Real Estate Development under Standard Qualifications and buying and operating hotels, resorts and other tourist operations. Kuwait projects include Al Corniche Club Resort and Spa and Taameer Residential Towers.
© Press Release 2008
Zawya is a distributor (and not a publisher) of content supplied by third parties and subscribers. Any opinions, advice, statements, services, offers, or other information or content expressed or made available by those third parties, including information providers, subscribers or other users of the Service, are those of the respective author(s) or distributor(s) and not of the Company. The Company neither endorses nor is responsible for the accuracy or reliability of any opinion, advice or statement made on the Service by anyone other than authorized Service employee spokespersons while acting in their official capacities. The Company is not responsible for any infringement of intellectual property rights or breach of any applicable law or regulation, including regulation in relation to financial services or the distribution of financial products, defamation, data protection, telecommunications (including regulations relating to excessive use, spamming or other abusive activities) or obscene, offensive or illegal content). Under no circumstances will the Company be liable for any loss or damage caused by a member's reliance on information obtained through the Service. It is the responsibility of member to evaluate the accuracy, completeness or usefulness of any information, opinion, advice or other content available through the Service. Please seek the advice of professionals, as appropriate, regarding the evaluation of any specific information, opinion, advice or other content.
Read the full Member Agreement
http://www.zawya.com/legal/NewsLetter.cfm?name=disclaimer
Comment on this article 
Loading ...-
Zawya encourages you to add a comment to this discussion. You agree that when you add content to this discussion your comments will not:
1.1 Contain any material which is libelous or defamatory of any person, is obscene, offensive, hateful or inflammatory or causes damage to the reputation of any person or organisation.
1.2 Promote sexually explicit material, violence, discrimination based on race, sex, religion, nationality, disability, sexual orientation or age or any illegal activity.
1.3 Be made in breach of any legal duty owed to a third party, such as a contractual duty or a duty of confidence.
1.4 Be threatening, abuse or invade another's privacy, or cause annoyance, inconvenience or needless anxiety.
1.5 Be used to impersonate any person, to misrepresent your identity or affiliation with any person, or be likely to deceive any person.
1.6 Give the impression that they represent Zawya.
1.7 Advocate, promote or assist any unlawful act such as (by way of example only) copyright infringement or computer misuse. - The content posted on www.zawya.com is created by members of the public. The views expressed are theirs and unless specifically stated are not those of Zawya. Zawya reserves the right to review all comments prior to posting and edit or delete any contribution, but Zawya is not responsible for and can not be held liable for any content posted by members of the public on www.zawya.com.
- Zawya is not responsible for the availability or content of any third party sites that are accessible through www.zawya.com. Any links to third party websites from www.zawya.com do not amount to any endorsement of that site by Zawya and any use of that site by you is at your own risk.
- By submitting your comment, you hereby give Zawya the right, but not the obligation, to post, air, edit, exhibit, telecast, webcast, re-use, publish, reproduce, use, license, print, distribute or otherwise use your comments worldwide, in perpetuity.
Stories
Companies
| Company Name | Country | Industry |
| Consolidated Contractors Company | Overseas | Construction and Design |
| Saudi Binladin Group | Saudi Arabia | Construction and Design |
| Saudi Telecom | Saudi Arabia | Telecommunications Services |
| Saudi Electricity Company | Saudi Arabia | Electric Utilities |
| Zuhair Fayez Partnership Consultants | Saudi Arabia | Construction and Design |
| Ministry of Health - Saudi Arabia | Saudi Arabia | Ministries and Municipalities |
| Qatar Engineering and Construction Company | Qatar | Construction and Design |
| Hyundai Engineering and Construction Company - Saudi Arabia | Saudi Arabia | Construction and Design |
| Nissan Motor Egypt | Egypt | Transportation Products |
| Almarai Company | Saudi Arabia | Food |
Projects
| Project Name | Country | Sector |
| ADNOC/ConocoPhillips - Sour Gas Fields Development - Shah Field | UAE | Oil and Gas |
| ENEC - Nuclear Power Plant | UAE | Power and Water |
| Takreer - Ruwais Refinery Expansion | UAE | Oil and Gas |
| SATORP - Jubail Refinery and Petrochemical Complex | Saudi Arabia | Oil and Gas |
| Aramco/Dow Chemical - Ras Tanura Integrated Refinery and Petrochemicals Complex | Saudi Arabia | Oil and Gas |
| IGD - Gasco - Habshan 5 Gas Processing Plant | UAE | Oil and Gas |
| Abu Dhabi Ports Company - Khalifa Port and Industrial Zone (KPIZ) | UAE | Infrastructure |
| Qatar Foundation - Sidra Medical and Research Center | Qatar | Real Estate |
| Emirates Aluminium (EMAL) - Smelter Complex - Phase 1 | UAE | Industry |
| Abu Dhabi DOT - Abu Dhabi Metro | UAE | Infrastructure |