FINANCIAL NEWS

Bank Sohar to fund USD 103.5mn for JW Marriot Hotel

29 Dec 2015

(MENAFN) Bank Sohar will fund USD 103.5mn for constructing the JW Marriot Hotel by Oman Tourism Development Company (Omran).

Moreover, the new five-star hotel, located in the middle of OCEC area, will be operated under the JW Marriot brand, which includes state-of-the-art food and beverage outlets.

The hotel is being built according to the highest values of environment sustainability and designed to meet the area of the prestigious leadership in Energy and Environmental Design (LEED).

In addition, this deal falls on the back of the USD 79.2mn finance contract that was signed with Bank Sohar in Sep for the Crowne Plaza Hotel Development.

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