Feb 14 2012 |
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Construction of Range Hospitality's $175 million Al Rawdatain Residences on schedule
Property to be managed by Shaza Hotels once completed in 2013
Designed by Dewan Architects and Engineers, the UAE based firm behind projects such as Yas Hotel in Abu Dhabi and the Baghdad Rotana Hotel, the new hotel with 624 apartments will be the largest five-star hotel and residences in Iraq. It will be managed by Shaza Hotels. It is a 65,000sqm, G+12 hospitality development. The hotel is conveniently located just one kilometre from the holy shrines. Range Hospitality has secured funding from the sale of off-plan Shariah compliant time share over the past 18 months.
Munaf Ali, CEO Range Hospitality, said: "The group always looks for potential markets and we found that Iraq offers a very favorable foreign investment environment making it a lucrative market for investment. Thus finding a gap in luxury accommodation across all spectrums, we went ahead with this large development to cater to over 20 million pilgrims who visit Karbala every year, and face acute shortage of residences. The fully furnished and serviced Al Rawdatain Residences suites will offer 24-hour security, crèche services, business centre, in-suite dining, four restaurants offering a large variety of cuisines and child care facilities."
By 2015 Range Hospitality aims to operate both 3-Star and 4-Star hotels in Najaf. The developer has already received a number of inquiries from regional partners to consider joint ventures in Medina. The group also intends to develop and operate a series of hotels in Mecca to cater to the needs of the entire Muslim audience.
-Ends-
Range Hospitality was founded to develop hospitality projects in emerging markets and areas that benefit from significant volumes of pilgrims. Range Hospitality's ethos is to provide the highest quality of international standard services to its guests and is a socially responsible investor - at all times ensuring its developments adhere to important local customs.
For more information, please contact:
THE IDEA AGENCY - PR DEPARTMENT
Tel: 971 4 3434424 Fax: 971 4 3434305 Email:pr@tia.ae
© Press Release 2012
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