Boasting a total of six hotels and residences in the Middle East either fully operational or under construction, Dusit has unveiled two additional properties - Dusit Princess City Centre Dubai and Dusit Dilmunia on Bahrain Health Island.
"Our regional strategic plan is beginning to unfold," said Octavio Gamarra, Senior Vice President of Dusit International. "Thai culture in general is increasingly popular throughout the Middle East. The key to our success has always been our unique, unrivalled and world renowned Thai hospitality, which sets Dusit apart from any other hospitality chain in the world."
The management contract for the Dusit Princess City Centre Dubai was signed with Dubai-based Sharaf Group and construction work is on schedule.
According to Wolfi Malik, General Manager of the new Dusit Princess City Centre Dubai hotel, "The exterior work is complete and the contractors are now working on the secondary and interior finishing. We are planning a soft opening in September with the grand opening slated for 1st October."
The four-star property features 120 rooms and suites, exclusive meeting rooms, an all day dining restaurant, a speciality café, gymnasium, swimming pool with jacuzzi and juice bar.
Situated just five minutes walk from Deira City Centre shopping mall, the hotel aims to attract both budget conscious business and leisure guests all year round.
"With our location, family atmosphere, brand and value-for-money rates, we are well positioned to gain market share in this sector," added Malik.
In addition to Dusit Princess, during a separate ceremony, Dusit signed a memorandum of understanding (MOU) with Bahrain-based Ithmaar Development Company (IDC).
The MOU outlines Dusit's role for the operation and management of Dusit Dilmunia a five-star resort and spa located on Bahrain Health Island in the Arabian Gulf.
The property will feature up to 250 guest rooms, restaurants, meeting space as well as a number of Thai-style beach-front villas situated on 30,000 square metres of pristine coastline. In keeping with the Dusit brand, the hotel will also offer Thai health and spa services.
"IDC is pleased to partner with Dusit. We discovered during our preliminary review that IDC and Dusit shared the same corporate philosophy and vision for this development. Naturally we are confident of not only meeting but exceeding our objectives for Dilmunia, due to the natural convergence of values and beliefs," commented Mohammed Khalil Alsayed, CEO and member of the Board of Directors of IDC.
Reclamation work on the 125 hectare man-made island, which will also accommodate residential, commercial and retail space, is on schedule. Construction of the hotel is expected to begin in 2011 with a significant part of the resort operational by 2012 and the entire island fully completed by 2014.
The timeline for the development of Dilmunia is a factor that IDC believes gives them a competitive advantage.
"According to some analysts, core construction costs in parts of the Gulf are now over 60% cheaper than they were last year, so we will benefit from these lower costs. In addition even the most pessimistic financial experts agree that the global downturn will be well on the road to recovery by 2012, providing an ideal timeframe for our project," added Alsayed.
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Thai charm entices Middle East hotel developer
- United Arab Emirates: Saturday, May 09 - 2009 at 12:10
- PRESS RELEASE
Thai luxury hotel chain Dusit International has announced further expansion of its regional portfolio of properties at Arabian Travel Market in Dubai.
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About Dusit International:Dusit International is a luxury hotel chain which has gained more than 50 years' experience in the hotel and hospitality field. Founded in 1949 by Honorary Chairperson, Thanpuying Chanut Piyaoui, whose first hotel was the Princess on Bangkok's New Road; Dusit has since acquired a unique portfolio of deluxe hotels, building upon Thai culture and tradition to create a personalised welcome for all guests, made distinctive under the Dusit brand promise: the delivery of an 'experience that enlivens the individual spirit no matter what the journey.' Dusit International comprises five hotel brands: Dusit Thani Hotel & Resorts (eight properties in Asia & the Middle East), dusitD2 hotel & resorts (one property in Asia), Dusit princess hotels and Resorts (Nine properties in Asia), Dusit Devarana Hotels & Resorts, Dusit Residence Serviced Apartments (one location in the Middle East).
It also operates its own signature Devarana Spa. It has recently announced its debut in Europe under the Devarana Spa brand and an entry into India with the Devarana Hotel brand. Dusit Thani Plc is public listed company whose shares are traded on the Securities Exchange of Thailand.
About Ithmaar Development Company:
Ithmaar Development Company Limited ("IDC") is the developer and manager of Ithmaar Bank's major development projects including real estate projects, infrastructure projects, resorts, hotels, medical facilities and commercial buildings. IDC's activities also include management and development of property, development management services and facility management services, and it intends to provide real estate consultancy services. IDC's initial portfolio of projects consists of the Health Island project, Aljazayer Beach Resort, and a hotel/office tower project.
The total value of these prestigious developments alone, is estimated at around $3.3bn. IDC is a founder of Naseej B.S.C. (C) [under formation] an integrated real estate company and is represented on the Board of Vision³ a strategic alliance of Ithmaar Bank, Gulf Finance House and Abu Dhabi Investment House. On behalf of Vision IDC recently signed an MOU for developing a 270-hectare mixed-use health resort in Essaouira to be branded as Dilmunia@Morocco.
IDC's CEO and Member of the Board of Directors is Mr. Mohammed Khalil Alsayed, an accomplished professional who has a distinctive track record of leading major development and infrastructure projects. IDC is the development arm of and is a wholly owned subsidiary of Ithmaar Bank B.S.C. (c).
About Ithmaar Bank:
Ithmaar Bank B.S.C. is licensed by the Central Bank of Bahrain and listed on the Bahrain Stock Exchange ("ITHMR") and Kuwait Stock Exchange ("ITHMR"). It has a paid-up capital of $543.6m, total equity of $1.2bn and is a full service investment bank with its direct business covering the Middle East and North Africa (MENA) region, as well as South Asia, Asia-Pacific and Europe. Besides holding significant investments in the banking, financial services and real estate sectors in different markets, the main direct activities of the Bank include underwriting (equity and other financings), private equity (structuring, participation and portfolio management), Islamic financing and advisory services covering project financing, investments, capital markets and mergers & acquisitions.
Ithmaar Bank's flagship subsidiaries and associates include Shamil Bank of Bahrain, Solidarity (an Islamic insurance company, headquartered in Bahrain), Faisal Private Bank (Switzerland), Faysal Bank Limited (Pakistan), and Bahrain based First Leasing Bank, BBK and Ithmaar Development Company.
For more information, please contact
Nathalie Viselé
Shamal Marketing Communications
Dubai Media City, UAE.
Tel: +971 4 3652711
Fax: +971 4 4278703
Posted by Rana MesbahSaturday, May 09 - 2009 at 12:10 UAE local time (GMT+4)
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