REFAD crowns new Dubai property

The new property will be managed under REFAD's luxury five-star hotel brand, THE MONARCH. The development will also include a convention centre and a luxury office tower.

REFAD President Antoine Yazbek said: "With a portfolio of five distinct hotel brands, we are able to offer hospitality products tailored to the needs of all guests, from those seeking world-class luxury resorts to discerning business travellers."

Refad Hotels & Resorts has five international properties already in operation, and six more under construction. The group aims to acquire six new properties a year over the next five years.

Located on Sheikh Zayed Road, The Monarch Hotel & Convention Center in Dubai will be made up of 240 rooms and suites, seven haute cuisine restaurants, and a ballroom able to accommodate 600 people.

The project will offer 141 Executive Rooms, 40 Deluxe Suites, Presidential and Royal Suites, and an all-suite hotel with 53 suites. Besides the ballroom, 16 meeting rooms will host major functions.

The entire site measures 150,000 square metres, with parking for 700 cars. The office tower covers 33,000 square metres and has 37 floors.

The hotel convention centre and office tower will be ready for occupation in the last quarter of this year.

Celebrating its third anniversary at ATM 2006, REFAD is strengthening its hotel management arm to meet investor demand and aims to acquire more hotels on management and lease contracts.

Yazbek said:

"We are investing in brand marketing, systems, processes, and people to continue to build the five distinct brands in the REFAD portfolio: The Monarch, Refad Resorts, The Square, The Four Stars, and The Rester. We are committed to innovation, and the opening of The Monarch Dubai Hotel will demonstrate our unique flexibility. REFAD is already associated with one of the most exclusive resort developments on OQYANA at The World in Dubai. Now we are unveiling an exclusive property in the city's burgeoning business district."

While The Monarch caters to the five-star luxury hotel market, The Square is a four-star-plus business hotel brand. The Four Stars brand serves the business and economy travel leisure market, and The Rester offers an exclusive five-star, all-suite service.

A pioneer of five-star hotels in the Middle East with more than 20 openings to his name, Yazbek said: "Transparency is one of our key advantages. We make timely decisions and put our customers and owners first. REFAD's unique relations with hotel owners and its effective management policies make it one of the fastest growing and most trusted business partners in the international hospitality industry today."

REFAD already operates The Monarch Hotel, Spa and Conference Center in Bad Goegging - Munich, which recently completed its 7 million euro Conference Centre in time for this year's World Cup. The centre will also cater to major industrial company events in the Bavaria rejoin.

REFAD also runs three Rester properties in Kuwait, and The Four Stars Hotel & Beach Club in Lebanon.

REFAD brand The Monarch will manage the only hotel property on OQYANA, which represents the Australian continent of The World, Dubai. Construction of the property starts in 2008.

The 20-storey The Monarch Hotel & Conference Center in Kuwait City, valued at more than US$100 million, will open in February 2008 with 350 rooms.

The Square Capital Tower will introduce The Square brand to Kuwait in 2007. The complex will include a hotel, shopping mall, office tower and apartments.

Last year's ATM saw REFAD announce a US$350 million fund to drive growth through Adeem Investment, a company owned by EFAD HOLDING which also owns Refad Hotels & Resorts.

The internationally registered Refad Hotels & Resorts opened its new offices in Kuwait last year. The company plans to float on an international stock exchange in 2007.