UAE: Coral set to invest Dh500m for three projects this year

9 November 2005

DUBAI -- Coral International will invest Dh500 million for its two upcoming projects in Ras Al Khaimah and for the expansion of Coral Beach Resort, Sharjah, this year.

This was announced yesterday by Shaikh Mohammed bin Faisal Al Qassimi, chairman and chief executive officer, Coral International Hotels, Resorts & Spas after the launch of Coral Boutique Hotel Apartments at Al Barsha.

In an interview with Khaleej Times, Shaikh Qassimi said: "We are planning new projects in the UAE as the hospitality sector is experiencing huge growth in the country due to large number of tourists visiting the country. This new Boutique hotel is built at a cost of Dh90 million and is the fifth property to start operations under the Coral International banner. We are planning to have 25 properties by the year 2008 in the Middle East. ''

He also said that they have two properties coming up in Beirut, one in Raouche and another in Commodore, which will be redesigned and refurbished for the AGCC customers. ''

Regarding three star and budget hotels, the chairman told Khaleej Times, "We are considering to build three star and two star hotels besides standard four and five star hotels in the near future as there is demand from tourists coming from various parts of the world looking for budget hotels during their visit to the UAE. ''

Addressing a Press conference Michel P.J. Noblet, managing director, Coral International Hotels, Resorts & Spas, said: "This Boutique hotel apartments complements the Coral International network that has got five properties running in the UAE including Coral Beach Resort, Sharjah, Coral Deira, Dubai,, Coral Suites, Ajman and Coral Oriental, Dubai. Beach Resort coming up in Ras Al Khaimah would include 220 chalets besides a massive recreation area and banqueting facility.

On the way is also a Desert Resort in Ras Al Khaimah that would have 90 rooms and 30 bungalows with the possibility of extension. Underway is a major expansion at Coral Beach Resort, Sharjah, that will add 64 deluxe chalets and 150 rooms to the existing 156 keys.'' He also added: "We are working on a 40-storey tower in Sharjah and a unique project in Abu Dhabi as well.

This year Coral International network experienced 93 per cent ocupancy and is the first hotel management company in the Middle East to offer alcohol-free environment.

Recent studies around the world have indicated a strong preference for a safe environment and we are delighted to say that Coral International is the first to take a step in that direction.''

At the core of this growth strategy lies a commitment to nurture a dynamic innovative brand and the philosophy for the company that's targeted at providing a safe and healthy environment to customers and employees alike.

Coral Boutique leads the way in having the first spa under the Coral International banner that will be operational by the end of the month.

BY MOUSHUMI DAS CHAUDHURY