UAE firm to build $100m Iraq hotel
Abu Dhabi, January 20, 2010
Abu Dhabi investment company Noor Capital will build a $100 million five-star hotel apartment project in Karbala, Iraq, with UK hospitality developer Range Hospitality, an executive said in remarks published on Wednesday.
The project, called The Range, is expected to be completed in 2013, The National reported.
The hotel will have between 650 and 700 rooms and will be managed by the Splendid Hotel Group of London.
"The transaction is in line with Noor Capital's governing philosophy to promote hospitality projects within the Middle East and in particular within the religious tourism sector," Ehab al-Bakri, the head of placement and business development at Noor was reported as saying. - Reuters