Dubai World to invest $70m in a landmark property in Comoros

The company, which has interests ranging from real estate to ports, also announced the appointment of Kempinski Hotels to manage the luxury beach resort in the Comoros.

Sultan Ahmed Bin Sulayem, Chairman of Dubai World, said:

"The development of the beach resort marks the first stage of a strategic partnership between Dubai World Africa and the Government of the Comoros. We believe our partnership and the expertise of Kempinski Hotels will make a significant contribution to the tourism offering in Comoros."

Dubai World Comoros Limited, in which the Union of Comoros Government is a shareholder together with Dubai World Africa, was established specifically for the acquisition of this landmark property.

The project will undertake the redevelopment of the Comoros' leading hotel, Le Galawa Beach. This hotel, beach resort and spa is situated on Grande Comore (Ngazidja) near the country's capital Moroni -- located on the Northern portion of Grande Comores on a pristine site which includes three exquisite white sandy beaches.

The current structure will be demolished and give way to a brand new, elegant 5-star international hotel.

In addition to foreign contractors, local entrepreneurs will participate in the project ensuring that the local economy benefits from the development of the new beach resort right from the very start of its construction. The project is to be divided in two phases, the first phase entails the completion of a 114 rooms hotel and 13 luxury bungalows. The first phase will begin imminently with the demolition of the former hotel structure. Completion is scheduled for early 2010.

"This collaborative partnership will contribute to ensuring the Comoros grows in its status as a leading tourist destination," expressed Dubai World Africa Director of Hospitality Operations Luis Pinheiro.

Dubai World will also develop a tourism master plan for the country, in conjunction with the Government.

"We have a long term commitment to Comoros and the region and this investment demonstrates confidence in the Comoros economy and its future."

Dubai World Africa has rapidly and firmly established itself as a contender in Africa's elite property stakes. It has successfully invested in prime African properties which include the iconic Victoria & Alfred Waterfront and the Pearl Valley Signature Golf Estate and Spa, both in Cape Town, South Africa, Muyuni Beach Resort in Zanzibar, Bilene Hotel luxury beach resort, golf estate and eco development in Mozambique and Kempinski Hotel in Djibouti, amongst others.

Commenting on the project, Ulrich Eckhardt, President, Middle East and Africa of Kempinski Hotels,said: "The highest quality of the overall development, concept, design and marketing position of the hotel will meet standards of an international 5-star luxury hotel."

Kempinski Hotels is Europe's oldest and most established luxury hotel collection, founded in 1897. Since then, Kempinski hotels have hosted international celebrities, witnessed meetings between the world's leaders and been a part of creating history around the globe.

While the Group's roots are in Germany, its portfolio is now spread throughout Europe, Middle East, Africa, South America and Asia with properties in locations such as Abu Dhabi, Beijing, Berlin, Budapest, the Dead Sea, Istanbul, London and St Moritz. Rich in tradition, it comprises a fine collection of sumptuous hotels and resorts, from the truly historic to the breathtakingly avant-garde.

"Kempinski has entered the global resort market in response to growing consumer demand and we are proud of our association with the magnificent new Comores beach resort," added Eckhardt.

He explained that Kempinski currently comprises many dedicated resorts, each of which offers an exceptional range of leisure facilities, luxury spa and a breathtaking location.

The new Comoros beach resort will be no exception. The hotel will be accentuated by the welcome services of a spa, banqueting and conference facilities, restaurants, recreational facilities and retail. The hotel's 150 rooms and suites will all be in excess of 45m2.

Comoros archipelago is located in the Mozambique channel and comprises four distinct islands which are Grande Comore, Moheli, Anjuan, and Mayotte with a total population of some 57,6000 habitants. The four islands are diverse and tourists visit the Comoros for its beautiful beaches, reefs, hiking on the largest active volcano in the world and its colourful local history full of tradition and art.