Kuwait-based IFA Hotels and Resorts, a specialist in development of premier integrated and mixed-use hotel and tourism resort projects, said it plans to build a new residential complex in Dubai at a total investment of AED858 million ($233 million).
Travel, Tourism & Hospitality
Kuwaiti group IFA to build $233m residential complex in Dubai
Kuwait-based IFA Hotels and Resorts, a leading developer of premier integrated and mixed-use hotel and tourism resort projects, has announced plans to develop a new residential complex in Dubai at a total investment of AED858 million ($233.6 million) through its key subsidiary C Seventeen Investment.
The project is being planned by a joint venture of C Seventeen Investment, stated the International Financial Advisors Company (IFA) in its filing to the Dubai Financial Market (DFM).
IFA Hotels & Resorts' global property portfolio includes Fairmont The Palm and Movenpick Hotel, Jumeirah Lakes Towers in Dubai and the Legends Golf and Safari Resort and Zimbali Lakes resort in South Africa.
The Kuwaiti group continues to evaluate emerging markets for strategic acquisitions and partnerships that will help diversify and expand its existing portfolio in Europe, Africa, and Asia.-TradeArabia News Service