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FINANCIAL NEWS
Dubai’s Arqaam plans new hotel in Croatia: Local media
26 Mar 2012
(MENAFN) Dubai-based Arqaam Capital plans a luxury hotel project on the historic island of Hvar in Dalmatia, Croatia, local media reported.
Croatian daily newspaper Slobodna Dalmacija said that Arqaam plans to build a 200-room five-star hotel with villas at the cost of USD132.6 million next year.
It was also reported that the investment firm purchased 16 acres of land in the Brizenica area for the hotel project which is expected to be managed by Kerzner International which also operates the Atlantis in Dubai.
The hotel opening is expected to create between 250 and 300 new jobs on the island.
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