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Monday, November 9 - 2009

MOU between GFH, Bahrain Ministry of Finance and National Economy for Al Areen project

Expediting the process of building the unique USD 600 million Al Areen Desert Spa and Resort, promoters of the project, the Gulf Finance House (GFH), and the Ministry of Finance and National Economy (MOFNE) of the Kingdom of Bahrain today signed a Memorandum of Understanding (MOU) clearly stating the roles both parties will play in developing this mega-project.

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  • (From left): Mr. Esam Janahi, Chief Executive Officer, Gulf Finance House (GFH), Mr. Abdul Hameed K. Zaman, Assistant Undersecretary for Operations, Ministry of Finance and National Economy (MOFNE) and Sheikh Hesham A. Mohammed Al-Khalifa, Head of  Central Strategy Office, MOFNE, at the signing ceremony in Manama.
    (From left): Mr. Esam Janahi, Chief Executive Officer, Gulf Finance House (GFH), Mr. Abdul Hameed K. Zaman, Assistant Undersecretary for Operations, Ministry of Finance and National Economy (MOFNE) and Sheikh Hesham A. Mohammed Al-Khalifa, Head of Central Strategy Office, MOFNE, at the signing ceremony in Manama.
The MOU was signed by Mr. Abdul Hameed K. Zaman, Assistant Undersecretary for Operations, MOFNE, and Mr. Esam Janahi, Chief Executive Officer, GFH, in the presence of Sheikh Hesham A. Mohammed Al-Khalifa, Head of Central Strategy Office, MOFNE.

Mr. Zaman referred to Al Areen Desert Spa and Resort as a milestone project that will play a significant role in accelerating the pace of growth of family and health tourism in Bahrain. "The project will also serve to catalyze the fervent economic diversification drive underway in Bahrain, while setting a benchmark for innovation and excellence in the region," he added.

Speaking at the signing ceremony, Mr. Janahi said: "The MOU with MOFNE takes us one more step ahead in the development of Al Areen Desert Spa and Resort. The MOU, in which both parties have stated their roles and responsibilities in developing the project, also strengthens the healthy cooperation existing between government bodies and the private sector in promoting Bahrain regionally as well as globally."

The Al Areen Desert Spa & Resort development has been conceived as an eclectic blend of relaxation and rejuvenation facilities, a host of tourism and leisure activities, hospitality services and residential units with modern amenities and infrastructure.

The project, which is the only one-of-its-kind in the region, will have four major components - the Oasis Spa Resort, Themed Hotels, a Residential Village and Aqua Park. The development will only be a 25-minute drive from the city centre of Manama and 35-minute drive from the Bahrain International Airport. It will be located behind the Al-Areen Wildlife Sanctuary and adjacent to the Bahrain International Circuit.

The heart of the entire development will be the Oasis Spa Resort covering 300,000 square metres offering the entire array of health, spa and therapeutic facilities from the Indian Ayurveda to Roman Baths.
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Notes and media contacts

For further details, please contact:
Arun Rangachari/ Ali Smadi
Percept Profile Gulf, Dubai, UAE
Tel: + (9714) - 3446373; Fax: + (9714) -3429158;

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