Fairmont Continues Its Middle East Expansion; Signs First Bahrain Hotel
Fairmont Hotels & Resorts, a luxury brand within the FRHI Hotels & Resorts (FRHI) portfolio, and Bahrain Real Estate Investment ("Edamah"), a wholly owned subsidiary of Bahrain Mumtalakat Holding Company ("Mumtalakat"), today announced the development of a new 215-room luxury resort in Bahrain.
The project is being developed by Bahrain Real Estate Investment ("Edamah") and supported by Mumtalakat, Bahrain's sovereign wealth fund, which manages more than $7 billion in investments and assets, including Aluminum Bahrain ("ALBA"), Gulf Air, Bahrain International Circuit and McLaren Automotive.
The hotel is in the early stages of development in the Al Jazayer area, which is a mixed-use project comprising of a public beach, retail and restaurant outlets, hospitality components, and entertainment facilities. South of the capital of Manama, within close proximity to Bahrain International Circuit and the Saudi Arabian Causeway, and just 35 minutes from the Bahrain International Airport, the hotel is expected to be a popular destination for leisure, business, and MICE guests visiting the region.
Fairmont Bahrain Resort will feature 215 guestrooms and chalets, Fairmont Gold – the brand's signature 'hotel within a hotel' concept, and over 2,000 square meters (21,500 square feet) of meeting and event space, including a state-of-the-art ballroom. Appealing to the local market, GCC travelers and international visitors, the resort's leisure offerings will range from an expansive beachfront area including a Fairmont spa and health club to a wide variety of restaurants and lounges featuring signature dining concepts.
"Bahrain has one of the fastest growing economies in the Middle East and is a country that continues to diversify with a strong focus on residential, leisure and retail opportunities," said Jennifer Fox, president, International Division and president, Fairmont Brand, FRHI Hotels & Resorts. "With the government's plans to develop the southern area into a major residential, commercial and entertainment hub, we believe it's a very opportune time to be entering the market and look forward to being a key part of the country's future growth."
Mahmood Hashim Al Kooheji, CEO of Mumtalakat, said: "We are pleased to be partnering with Fairmont to open the first Fairmont hotel in Bahrain and to create a prime destination for both residents and visitors to Bahrain. The hotel will be developed in Al Jazayer area, one of the most beautiful beaches in the Kingdom and will contribute positively to its development into a prime touristic destination in the region. It will also create jobs and opportunities for further partnerships between the public and private sector."
The addition of Fairmont Bahrain Resort complements a growing portfolio of other Fairmont hotels currently under development in the region including Fairmont Ajman, Fairmont Riyadh, Fairmont Fujairah, Fairmont Citystars Sharm el Sheikh, Fairmont Amman and Fairmont Marina Resort, Abu Dhabi.
Bahrain Real Estate Investment (Edamah), a wholly-owned subsidiary of Bahrain Mumtalakat Holding Company (Mumtalakat), is a closed Bahraini Joint Stock Company, incorporated in the Kingdom of Bahrain on 28 May 2006. Edamah was established to develop and manage government properties and lands in Bahrain. Hence, it is committed to the reinvigoration of the Bahraini real estate sector and is focused on investments that aim at utilizing the Government's lands and properties in Bahrain. Edamah is currently investing in real estate projects that will benefit the commercial, tourism and hospitality sectors in Bahrain, and will ultimately result in increased economic confidence in the Kingdom.
Mumtalakat is an independent holding company mandated to grow the wealth of Bahrain based on sound financial and strong governance principles. Mumtalakat holds stakes in 38 commercial enterprises, with a portfolio value of approximately U.S. $7.2 billion as of June 30, 2014. Its portfolio spans a variety of sectors, including industrial manufacturing, financial services, telecommunications, real estate, tourism, transportation, ICT, TMT and education. Mumtalakat holds stakes in McLaren Group Limited and McLaren Automotive; the ship and rig repair company ASRY; the workforce management services and software company PRO Unlimited; and the international education company GEMS, among other blue-chip companies based in the Middle East and around the world.
management company that operates more than 130 hotels and branded residential offerings globally under the Raffles, Fairmont and Swissôtel brands. The company"s distinctive portfolio of luxury and upper upscale hotels features celebrated icons, world-class resorts and stylish city center hotels. Some notable hotels include Fairmont Dubai, Raffles Singapore, Swissôtel The Bosphorus, Fairmont San Francisco and London"s The Savoy. Focused on growing its distinctive hotel brands, the company is also developing new hotels in key locations around the world including exciting projects in China, Russia, Egypt, Turkey, Saudi Arabia and the United States. The company also manages Raffles, Fairmont and Swissôtel branded luxury private residence clubs, whole-ownership residences and serviced residences properties. For more information visit frhi.com.
FRHI Hotels & Resorts (FRHI) is a leading luxury hotel