Dubai Wednesday, July 27, 2005

Al Areen Holding Company, developer of the $750 million (Dh2.76 billion) Al Areen development, has announced the components of the Banyan Tree Spa and Resort, to be operated and managed by Asia's luxury spa and resort operator Banyan Tree Hotels and Resorts.

Construction of the spa and resort, coming up on 112,000 square metres, is on a fast track and will be completed ahead of schedule, Al Areen said in a statement.

Banyan Tree is being developed as a luxury resort, 35 minutes from Bahrain International Airport by car.

The desert spa and resort is at the heart of the Phase I of Al Areen the two million square metre integrated mixed-use project, being developed for $100 million (Dh368 million).

The construction of the spa and resort started three months ago.

The spa and resort is the first venture for Banyan Tree in Bahrain and is a cornerstone of the company's Middle East expansion strategy.

The Banyan Tree Desert Spa and Resort will feature 78 luxurious bungalows on a total built-up area of 32,000 square metres, including 22 presidential two-bedroom villas and 56 single-bedroom villas, all with their own private garden, swimming pool and jaccuzi.

The components of the Al Areen development include residential villages, themed hotels, a water park, and a variety of sports, leisure, entertainment and retail facilities.

The Al Areen development is the brainchild of Gulf Finance House, a leading Islamic investment bank in the region.

Gulf News