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FINANCIAL NEWS
UAE’s MAF Properties plans hotel expansion in MENA, Central Asia
21 Jul 2012
(MENAFN) Majid Al Futtaim Properties, the developer arm of Majud Al Futtaim Group (MAF), said it is currently developing around 2,000 hotel rooms in Saudi Arabia, Beirut, Syria and Central Asia, Arabian Business reported.
Salman A Haider, senior vice president at Majid Al Futtaim Properties, was quoted by Hotelier Middle East as saying that the developer is seeking to expand hotel business in Saudi Arabia, Middle East and North Africa region and Central Asia.
He also said that MAF Properties was in talks with global hotel operators including Starwood, InterContinental Hotels Group, Marriott International and Hilton Worldwide.
Currently, MAF Properties’ hotel portfolio includes around 3000 hotel rooms in the three-star, four-star and five-star segments in Dubai and Bahrain.
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