Farouk Y. Almoayyed, Chairman Gulf Hotel Group highlighting the salient features of Group’s regional expansion confirmed the acquisition of a plot of land in Business Bay on the Dubai Creek for the construction of its first five-star hotel in the area.
“The Group has commenced the development of the five stars “Gulf Hotel Business Bay” which will feature 230 rooms, three fine-dining restaurants, a variety of function halls and meeting facilities, a spa and fitness centre and other top class facilities including substantial car parking. This waterfront property, located 1.5km from Burj Khalifa and Dubai Mall, is now in design stage and is expected to open mid-2017. He further added that we are also in discussion with a group of investors to purchase another plot of land in the new Sh. Mohamed bin Rashid City in Dubai for the development of another 5 star hotel in the area,” he explained.
Aqeel Raees, CEO and Board Member of the Group, said that the project would be funded by the Group itself.
“We don’t need funds from outside for our expansion plans including the new hotel in Dubai. We are talking about BD50 million for new hotel and about BD16 to BD20 million for the expansion and renovation being carried out in Gulf Hotel Bahrain,” he added.
Adding to the comments of the Chairman Aqeel expressed his satisfaction with the results, announcing that the Group has completed the construction of the new commercial laundry which has commenced trading as Gulf Hotel Laundry Services, and is expected to make a big impact in the laundry market in 2014.
Raees added that a new 108 seat Indian Restaurant is under development within the Gulf Hotel and when opened in the 2nd half of 2014, will undoubtedly set new standards for Indian cuisine within Bahrain.
“Refurbishment of the Gulf Hotel’s Awal Ballroom and the renowned La Pergola Restaurant will take place in the summer of 2014. Designs are also being drafted to create a new lounge located off the Hotel’s Al Andalus Lounge, the fit out of which will start later in the year. Refurbishment of the South Wing building and the Gulf Executive Residence is scheduled to commence in July 2014 and be completed by the end of the year. In addition, the soft refurbishment of the Tower Block rooms will also be undertaken in the 2nd half of 2014.
He further added that the development of the Gulf Residence Amwaj in conjunction with Lona Real Estate is nearing completion and the 173 unit, 4 star apartment-hotels will open in the 2nd half of 2014.
He continued stating that the construction of a new 3,100 square meters spa is also underway with completion scheduled for mid-2015. “GHG is currently developing a 78 unit serviced apartment facility in Juffair, with construction expected to commence in the 2nd half of 2014 and take 18 months to complete.
Raees appreciated the management and staff of all of the Group’s divisions whose hard work and efforts have contributed towards achieving these positive results. He also stated that the success of any company comes down to its customer base, thanking the Groups valued customers for their continuous support.