27 April 2007
Kuwait's Arab Real Estate Company said it is in advanced talks to sell its Sharjah Rotana Hotel for KD24 million (Dh301m).
The book value of the hotel is KD3.2m (Dh40.2m) so the expected profit if the deal is concluded is KD20.78m (Dh261m), the firm said. As well as the Sharjah Rotana, the firm owns the Safir Al Sayedah Zeinab Hotel in Syria and the Salmiya Holiday Inn in Kuwait.
Kuwait's Arab Real Estate Company said it is in advanced talks to sell its Sharjah Rotana Hotel for KD24 million (Dh301m).
The book value of the hotel is KD3.2m (Dh40.2m) so the expected profit if the deal is concluded is KD20.78m (Dh261m), the firm said. As well as the Sharjah Rotana, the firm owns the Safir Al Sayedah Zeinab Hotel in Syria and the Salmiya Holiday Inn in Kuwait.
© Emirates Today 2007
