Browse
related articles
MOU between GFH, Bahrain Ministry of Finance and National Economy for Al Areen project
- Bahrain: Saturday, February 14 - 2004 at 15:09
- PRESS RELEASE
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.
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.
Also consider reading:
Browse
related articles
- » Dubai Department of Finance repays Dubai Civil Aviation Authority $1bn sukuk
- » World experts meet in Dubai to discuss means to improve MENA corporate governance at Hawkamah-OECD 4th Annual Conference
- » DIFC Courts first pro bono case to be represented by Clyde and Co.
- » SG Private Banking reinforces its senior management team in the Middle East
- » UAE Interior designers set to reveal their visions at INDEX, sponsored by Al Nakheel
Notes and media contacts
For further details, please contact:Arun Rangachari/ Ali Smadi
Percept Profile Gulf, Dubai, UAE
Tel: + (9714) - 3446373; Fax: + (9714) -3429158;
Disclaimer:
Articles in this section are primarily provided directly by the companies appearing or PR agencies which are solely responsible for the content. The companies concerned may use the above content on their respective web sites provided they link back to http://www.ameinfo.com
Any opinions, advice, statements, offers or other information expressed in this section of the AMEinfo.com Web site are those of the authors and do not necessarily reflect the views of AME Info FZ LLC / Emap Limited. AME Info FZ LLC / Emap Limited is not responsible or liable for the content, accuracy or reliability of any material, advice, opinion or statement in this section of the AMEinfo.com Web site.
For details about submitting your stories, please read the guide - all content published is subject to our terms and conditions

Posted by Christine H. Andersen, Assistant News Editor
