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FINANCIAL NEWS
UAE’s Sheikh Mohammed signs USD234m agreement with Ghantoot Group
05 Jun 2014
(MENAFN) Sheikh Mohammed bin Suroor Al Nahyan, owner of Sheikh Suroor Projects Department (SSPD), and Ali Mohamed Sadeq Al Baloushi, Chairman of the Ghantoot Group, have signed an agreement to develop a luxury beach resort on Saadiyat Island in Abu Dhabi, according to the Emirates 24/7.
The project will cost around USD234.09 million and is expected to be completed by the end of 2017.
The project includes a hotel comprised of four wings, a standalone spa and wellness center, gymnasium, as meeting rooms, and a resort of 11 luxury two-storey villas.
Sami Al Khuwaiter, Projects Director of SSPD, said: “The Saadiyat Island Resort will be a world-class luxury destination at the heart of the UAE’s capital, and is the latest in SSPD’s long line of developments, all aimed at creating regional landmarks of quality.”
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25 Mar 2025
BBK’s General Assembly Approves 35% Cash Dividend Distribution to Shareholders
12 Mar 2025
Mr. Yaser Alsharifi completes Harvard Business School Presidents’ Program in Leadership
19 Feb 2025
Bank of Bahrain and Kuwait BSC announces the transfer of HSBC Middle East, Bahrain Retail Business to BBK.
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