Dubai-based development company plans tourism project in St. Kitts
|Photo of Munaf Ali (Courtesy of Arabian Business)|
BASSETERRE, ST. KITTS, MARCH 8TH 2012 (CUOPM) – A Dubai-based developer that specializes in hotel and residential development is planning a tourism development on St. Kitts, according to Arabian Business.
Range Hospitality, which specialises in developing hotels and residences in pilgrimage sites, is planning to invest US$1billion in new projects in the Middle East and St. Kitts over the next three to four years.
Munaf Ali, CEO of Range Hospitality told Arabian Business that the company has plans to build five-star properties in Mecca and Medina.
Under the Range Holdings group of companies, Range Developments will be developing luxury hospitality projects outside of religious tourism, with projects soon to be launched in the Iraqi city of Baghdad and the tourism destination of St. Kitts. Details of the St. Kitts project was not disclosed.
“Range Hospitality would be investing a considerable amount of money in the next three to four years,” said Ali.
Range currently has a pipeline of around US$500 million, which includes projects in the Iraqi cities of Karbala and Najaf, but Ali said it plans to invest an additional US$500 million in projects in Saudi Arabia and beyond.
Last month, construction of Range’s US$175 million Al Rawdatain Residences hotel project in Karbala got underway.
The 12-storey hotel project was launched in August 2010 and is due to be completed by the end of2013.
By 2015 Range Hospitality aims to operate both 3-Star and 4-Star hotels in Najaf.