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FINANCIAL NEWS
Jumeirah Group stretches arms to Egypt
02 Aug 2010
(MENAFN Press) Dubai-based luxury hospitality company and member of Dubai Holding, Jumeirah Group, has inked an agreement with Palm Hills Developments (PHD), one of Egypt?s premier developers, to manage Jumeirah Gamsha Bay Resort, , Khaleej Times reported.
Jumeirah has been appointed to manage the new five star deluxe resort located in PHD?s Palm Gamsha resort on the Red Sea, which includes a 250-room hotel on the mixed-use development of Palm Gamsha, an integrated community of over 20 man-made islands forming the shape of a seahorse, located 47km North West of Hurghada airport.
Jumeirah Gamsha Bay Resort is Jumeirah?s first management agreement signed in Egypt. This latest agreement brings the total number of properties under development or in operation by Jumeirah globally to 48.
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Bank of Bahrain and Kuwait BSC announces the transfer of HSBC Middle East, Bahrain Retail Business to BBK.
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