|
|
Article: Kingdom Hotel Investments acquires newly constructed apartment building in Bur Dubai
- Article from:
- Al Bawaba
- Article date:
- September 17, 2006
CopyrightCopyright 2006 Al Bawaba. Provided by ProQuest LLC. (Hide copyright information)
|
Kingdom Hotel Investments ("KHI"), the leading hotel and resort
investment company, chaired by Prince Alwaleed Bin Talal, announces
that it has acquired the neighbouring property to its Movenpick Bur
Dubai hotel for US$24.9 million. KHI plans to spend US$4.4 million
on furnishing, finishing and upgrading the facilities to match 5-
star serviced apartments standards. The property will be named
Movenpick Bur Dubai Residences and will provide additional capacity
to this successful hotel through fully serviced apartments and
facilities.
The Movenpick Bur Dubai Residences, will provide 63 hotel
apartments (with an average apartment size of 110m2), a swimming
pool, gym, retail outlets and ...