Another milestone in development of world-class resort and lifestyle destination for Bahrain
Dubai, UAE: GFH Financial Group, today announced the signing of Operation Agreement with H Hotels& Resorts Management (H Hotels) for the operation of an exclusive, new 5-star hotel and residences currently under development at the landmark Harbour Row waterfront project located in the heart of Manama.
The move will mark H Hospitality Collection entrance into the Bahrain market adding to the UAE based company’s growing collection of luxury hotels and resorts internationally including: The H Dubai, The H Resort Seychelles, CentreVille Hotel & Experiences Montenegro and Villa Diyafa in Morocco. Other properties in the company’s portfolio also include Le Meridien Fisherman’s Cove in the Seychelles and two hotels under construction in Mecca and Abu Dhabi.
The hotel and residences will boast a host of world-class facilities including stylish restaurants, meeting rooms, pool, gym and other lifestyle amenities set to attract and satisfy the most discerning visitors and buyers. Being designed and completed to the most exacting standards, nearly 60% of the work on the hotel property has now been concluded along with the rapid overall progress across the development’s East and West side residential towers consisting of 322 apartments and accompanying vibrant retail and commercial hubs.
Commenting, Mr. Hisham Al Rayes, CEO of GFH, said, “We are delighted to announce this agreement with H Hotels, who have built a world-class portfolio of well-known properties and brands and a strong track record of distinction across international markets. We are especially pleased that Harbour Row will mark their first property in the Kingdom of Bahrain, both benefiting from and supporting Bahrain’s vision to further elevate its position as a leading regional tourism and leisure hub through the addition of new, exciting properties and lifestyle destinations like the H Hotel at Harbour Row. As we swiftly move ahead with the hotel towards completion, we are pleased to offer both residents and investors a unique opportunity to purchase these exclusive branded hotel apartments, which we expect to create strong value and returns given the prime location and anticipated high levels of occupancy.”
Mr. Claudio Capaccioli, CEO of H Hospitality Collection, added, “Our partnership with GFH Financial Group marks another milestone in development of H Hotels and our strategy to take our vision for unmatched luxury into neighbouring and international markets where we believe we can deliver a superior new offering. We look forward to working with GFH in order to maximise the many unique aspects of Harbour Row including its exclusive and much sought after waterfront location, easy access to all major commercial and business centres and close proximity to key tourist attractions across the Kingdom. In line with the stature of the properties we have developed and manage around the world, we are confident that visitors and investors will be impressed with the highly original concepts we deliver, which are built on modern elegance alongside unsurpassed convenience and comfort. Operating this property in Bahrain is a significant step in our GCC expansion strategy and we look forward to opening more properties in the country”.
About GFH Financial Group B.S.C.
GFH is one of the most recognised financial groups in the Gulf region. Its businesses include Asset Management, Wealth Management, Commercial Banking and Real Estate Development. The Group’s operations are focused in the GCC, North Africa and India. GFH is listed on Bahrain Bourse, Boursa Kuwait and Dubai Financial Market.
For more information, please visit www.gfh.com
About H Hospitality Collection:
HHC is an UAE based hospitality management platform, currently operating/asset managing 5 properties under the H (5 stars hotel brand), Centreville (4 stars lifestyle hotel brand) and Le Meridien brand. The company has presence in Dubai, Seychelles, Podgorica and Rabat and a strong pipeline to develop new projects for the upcoming years. H Hospitality Collection is part of Abu Dhabi Capital Group LLC, a private institutional investment company based in Abu Dhabi, United Arab Emirates.
© Press Release 2019