InterCon to develop its first hotel in Syria JEDDAH – InterContinental Hotels Group (IHG) has signed an exclusive agreement with MAK Hotel Holdings, a member of the M.A. Kharafi Group of Kuwait, to develop an InterContinental Hotel in the Syrian capital. Located in the city center, the 370-room InterContinental Damascus, due for completion in 2010, will form part of the capital's only integrated development which will include a shopping mall, cinema complex and office space. Targeted at the luxury leisure traveler, InterContinental Damascus will be the perfect starting point for those keen to explore the areas historic sites, known to be one of the oldest continuously inhabited cities in the world. John Bamsey, chief operating officer, IHG, Middle East & Africa, said: “The M.A. Kharafi Group is one of the largest Groups in the Middle East and we are delighted to be partnering with them on the InterContinental Damascus. Over the last few years we have witnessed a substantial increase in tourism levels to Syria; our aim is for IHG to be at the forefront of this demand for accommodation. When open, InterContinental Damascus will offer guests a luxurious and first-class place to stay while discovering this historically rich location; testament to InterContinental's commitment to provide authentic and enriching destination experiences for all guests.” Mohamed Fahmy, managing director of MAK Hotel Holdings, said: “This is an exciting development for our group and we are thrilled to be working alongside IHG to deliver an exceptional InterContinental branded hotel in the heart of Damascus. There is great investment potential throughout Syria and we look forward to expanding our portfolio within the region.” Incorporated in the design of the InterContinental Damascus are a number of world-class meeting rooms, specialty shops, health club and spa. The property will also feature the largest grand ballroom in Damascus, with capacity for 2,500 people. With other highlights including an all-day dining restaurant, three speciality restaurants and bar, the hotel is set to become a key attraction for both local and international travelers. ‘Image Residences' DUBAI – Al-Fara'a Properties, the flagship subsidiary of the Al-Fara'a Construction, Industrial and Property Group, has announced the launch of “Image Residences,” an AED505 million two-tower project, which marks the developer's initial foray into Downtown Jebel Ali. With the launch of the prime residential towers project, the developer's projects' consolidated value has now crossed AED1 billion after the launch and tremendous sales success of its previous developments including “Le Grand Chateau,” “Manhattan Luxury Apartments” and “Mulberry Mansions.” Units within the new development, which is expected for delivery in 2011, are being offered at a convenient financing scheme of up to 90 per cent and will be showcased during the developer's participation at Cityscape Abu Dhabi from May 13-15, 2008 at the Abu Dhabi National Exhibition Center. A lavish residential development comprising of 17-storey and 11-storey towers, “Image Residences” will offer a selection of sophisticatedly-designed spacious studio, one, two- and three-bedroom apartments and plush townhouses. Each apartment has been imbedded with chic and fashionable details that complement the stylish standard of living in Downtown Jebel Ali, in addition to well-appointed interiors, fully fitted kitchens and spacious walk-in wardrobes. Equipped with smart home technology, the units will have round the clock hour security and CCTV, central air conditioning and state-of-the-art fire alarm system, high-speed internet connectivity and a back-up power system. Ample rest and relaxation facilities will also be provided, including a landscaped leisure deck on the podium level, swimming pools with a separate pool for children, an outdoor seating and BBQ area, a fully-equipped gym and retail outlets at the ground floor. Cityscape Abu Dhabi ABU DHABI – New records are expected to be made at Cityscape Abu Dhabi - the premier real estate development and investment event of the capital of the United Arab Emirates - which opens on Tuesday at the Abu Dhabi National Exhibition Center. The show was sold out some months ago, with over 300 confirmed exhibitors covering more than 30,000 square meters of exhibition space. Organizers IIR Middle East say the event which runs until May 15, will easily exceed the 15,000 visitors recorded last year. “Cityscape's debut in the capital last year, surpassed all expectations. This year we expect to attract more than 25,000 visitors from over 100 countries with projects from more than 50 countries,” said Mark Goodchild, project manager, Cityscape Abu Dhabi. To underscore the importance of the event as a showcase for the capital's intricate planning, sustainable projects and investment transparency, Sheikh Mohammed bin Zayed A-Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, has ageed to be patron of Cityscape Abu Dhabi for a second successive year. In terms of “home-grown” support, the Abu Dhabi government and locally-based real estate heavyweights have shown full support for the industry showcase. Major local developers such as Mubadala, Sorouh Real Estate, ALDAR Properties and Al-Qudra Real Estate will all have a significant presence. Lake Central project DUBAI – Fakhruddin Properties, one of the UAE's leading real estate developers, has announced that construction operations at its Lake Central project, which has an investment value of AED800 million, Lake Central project - a unique T-shaped 22-storey commercial tower located in Business Bay and scheduled for completion by late 2009 - are underway and the piling phase has already been completed. “Lake Center is a unique commercial tower adding to our signature projects, which have garnered much attention thanks to their unique architectural features, strategic locations, premium facilities and high investment returns,” said Ali Asgar Fakhruddin, director of Fakhruddin Properties. Layia to open first hotel RIYADH – Layia Hospitality, Dubai's freshest new hotel management company, is putting the finishing touches to its first hotel property, Layia Oak Hotel & Residence, ahead of its opening this summer. Located off Sheikh Zayed Road, between the stunning Mall of the Emirates and the Ibn Battuta Mall, the Layia Oak Hotel & Residence is 25 minutes away from the Dubai International Airport, 10 minutes away from the DIFC, the Exhibition and Convention center, the Jebel Ali Free Zone World Central & the Emirates Golf Course. Media City, Internet City and Knowledge Village are on the opposite side of the property. The world-class property will offer 161 rooms & apartments “1, 2, 3 bedrooms”. The rooms are equipped with the very best in fixtures, fittings, soft furnishings and prime quality beds. __
