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FINANCIAL NEWS
UAE’s Shurooq inks USD95m Khor Fakkan resort deal
11 Dec 2011
(MENAFN) The Sharjah Investment and Development Authority’s (Shurooq) CEO, Marwan Bin Jasem Al Sarkal, said that the authority inked a USD95 million deal with General Hotel Management (GHM) in order to bring Chedi hotels, the Thai hospitality chain, to Khor Fakkan, reported Gulf News.
Al Sarkal added that the Chedi Khor Fakkan Resort, which would mainly include three sections, the fort, the hilltown and town square, would be forecasted to open in 2015, and upon completion, it would be expected to introduce a wide range of activities that would benefit from warm temperatures and rich marine life of the Gulf of Oman.
He also said that the fort would be located on the hilltop and would serve as the primary access point to the resort, containing restaurants, spa, gym, business facilities and reception, whereas the hilltown would include 170 suites with seaside views situated along the natural gradients of the hillside, on the other hand, the town square would be located in the center of the hilltown, and would include a number of cafes, preserving the beachfront and providing a secondary gathering point.
It is worth noting that the Chedi Khor Fakkan Resort will join the other Chedi hotels that GHM has launched, including Chedi Chiang Mai in Thailand, Chedi Muscat in Oman, Chedi Andermatt, and the Chedi Club in Bali, Indonesia.
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