REGIONAL NEWS
STARWOOD HOTELS AND RESORTS EXPAND INTO IRAQ S
tarwood Hotels & Resorts Worldwide has recently signed an agreement with BCD Co. to manage a newly built Sheraton hotel in
Erbil, Iraq. Scheduled to open in 2015, the Sheraton Erbil Hotel will mark the re-entry of Starwood in the country after 20 years. Te hotel will comprise 221 guest rooms and 39 suites, featuring
extensive dining, conference and leisure facilities, a Sheraton Club Lounge and Sheraton Fitness as well as a signature spa, including an indoor and outdoor pool. Located in the new part of the city, approximately 10 minutes from Erbil
International Airport, the Sheraton Erbil Hotel is situated along the new ring road offering guests easy access to the city and its key attractions such as the historic Citadel, Sami Abdul Rahman Park, the largest green area in the region, and downtown Erbil. “We are delighted to partner with BCD as we re-introduce Starwood to
Iraq with Sheraton, our most iconic brand,” said Roeland Vos, President of Starwood Hotels & Resorts, Europe, Africa and Middle East. “Te opening of the new Sheraton Erbil Hotel further underlines Starwood’s commitment to growth and expansion in the region.” Mr. Saad Aldoski, Partner at BCD Co. commented: “We are excited
to work with Starwood and the Sheraton brand on our first hotel development in Erbil. We believe that our partnership with a globally recognised hotel operator such as Starwood will set new hospitality milestones in Iraq and that Sheraton’s strong reputation will assist in further supporting Erbil as the country’s commercial hub.”
Located in northern Iraq, Erbil is the capital of the Kurdistan Autonomous Region and is emerging as the country’s commercial hub. Te city is served by Erbil International Airport with a growing number of international airlines connecting through Erbil.
l Mazaya Holding and Oman Housing Company have concluded the mid-March settlement agreement in which Al Mazaya acquired Plot number 186 in the Omani ‘Al Mawaleh’ neighbourhood of Muscat. Te deal was signed by Rashid Yaqoub Al-Nafisi, Chairman of Al Mazaya Holding, and Sheikh Qais Bim Mistehil Al Meshani, chairman of Oman Housing Company.
Te 23,194 square metre land plot is allocated for commercial and
residential use. Both companies signed a joint venture agreement in August 2007 in which Al Mazaya Holding entered into a partnership with the Omani company, resulting in a real estate portfolio through which Al Mazaya Holding accrued dividends of 1.3 million Omani Riyals up until June 29, 2008.
“Al Mazaya’s land plot at ‘Al Mawaleh’ is a real prospect for a new
real estate project, and a promising real estate investment due to its unmatched beauty and vital location. Tere are several ideas under study to decide which project can be implemented on this plot,” said Eng. Nayef Mohammed Al Awadi, CEO of Al Mazaya Holding. Driven by growing local and regional demand particularly from Saudis and Emiratis, Al Awadi pointed out that Al Mazaya sees promising opportunities in the Omani real estate market in the areas of health, education and tourism, as the country enjoys wonderful natural land and seascapes and a fine climate. Te mature nature of legislation and law in Oman constituted an additional incentive for Al Mazaya to acquire the ‘Al Mawaleh’ plot and further increase the company’s investments in the Sultanate. Te regulation of real estate activities and the recently approved brokerage law reflect Oman’s true aspiration to develop the real estate sector and attract further investments during the next few years, Al Mazaya’s CEO concluded.
AL MAZAYA REAL ESTATE ACQUIRES ‘AL MAWALEH’ PLOT IN OMAN A
4 I CITYSCAPE I JUNE 2012
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60