ATM: GCC tourism infrastructure to get USD 56 billion in investments by 2022

ATM: GCC tourism infrastructure to get USD 56 billion in investments by 2022

Backed by Dubai-based DP World, Hyperloop One has the potential to transport approximately 3,400 people an hour, 128,000 people a day and 24 million people a year.

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AccorHotels sells majority stake in AccorInvest

AccorHotels sells majority stake in AccorInvest

AccorHotels has signed agreements with a group of international investors with a view to selling a majority of the capital of AccorInvest. Under the terms of the agreements, AccorHotels would initially sell 55 percent of AccorInvest to Sovereign Funds, namely the Public Investment Fund (PIF) and GIC, Institutional Investors, namely...

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Jordanian Siniora expands business

Jordanian Siniora expands business

Jordanian Siniora Food Industries purchased a 3,500 square meter warehousing facility in Riyadh, Saudi Arabia, at a total cost of USD 2 million, a move that is in line with Siniora’s expansion strategy in the region to focus on Gulf markets. The company has also purchased a 11,590 m2 plot of land...

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Nakheel inks contract to build USD 1.6 billion Deira Mall

Nakheel inks contract to build USD 1.6 billion Deira Mall

Master developer Nakheel officially signed a contract for the construction of Deira Mall, its new shopping, dining and entertainment destination with a total development value of USD 1.6 billion – and the biggest mall in the Middle East. Nakheel confirmed that UNEC United Engineering Construction, will build the mall, the...

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Mega projects launched in Sharjah

Mega projects launched in Sharjah

H.H. Dr. Sheikh Sultan bin Mohammed Al Qasimi, Supreme Council Member and Ruler of Sharjah, has unveiled three ground-breaking real estate projects for the emirate. Valued at USD 735 million, the three projects are the result of a joint venture between the Sharjah Investment and Development Authority, Shurooq, and Eagle...

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Abu Dhabi-based investor Twenty14 Holdings buys Edinburgh’s Waldorf Astoria-The Caledonian

Abu Dhabi-based investor Twenty14 Holdings buys Edinburgh’s Waldorf Astoria-The Caledonian

​ Abu Dhabi-based investor Twenty14 Holdings, a Lulu Group International subsidiary bought Edinburgh’s Waldorf Astoria-The Caledonian for £85 million sale (USD 117 million), reported Hotel Management.   The deal is considered the biggest hotel sale in Scotland since 2015, and the largest in the U.K over the past year.   The...

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Bahrain tourism projects valued at over USD 13 billion

Bahrain tourism projects valued at over USD 13 billion

The Bahrain Economic Development Board, EDB, revealed investment in Bahrain’s tourism infrastructure reached over USD 13 billion. According to the Bahrain News Agency, BNA, the figure covers 14 prominent projects that will further boost growth in the Kingdom’s tourism and leisure sector. The sector witnessed rapid growth in the past...

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Reasons to do business in Lebanon

Reasons to do business in Lebanon

Lebanon was the 72nd largest market for U.S. exports in 2016, according to U.S. Department of Commerce statistics.  The Lebanese Customs Authority reported that Lebanon’s total imports in 2016 reached USD 18.705 billion, of which USD 1.184 billion came from the United States. In 2016, the United States ranked as...

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A new fund by CNN to boost the travel and tourism sector

A new fund by CNN to boost the travel and tourism sector

CNN International Commercial (CNNIC) has launched the ‘Go There Media Fund’ to provide travel and tourism expertise to distressed destinations and countries recovering from natural disasters. The initiative was announced by Rani Raad, President of CNNIC, at a gala dinner ahead of World Travel Market, taking place in London this...

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