KIC to invest $47 million in Bahrain's Al-Areen Desert Spa & Resort
The Kuwait Investment Company (KIC) plans to invest $47 million in Al-Areen Desert Spa & Resort project.
The $600 million Al-Areen development in Bahrain is promoted by the Gulf Finance House (GFH). The project has been conceived as a destination for a mixed blend of relaxation and rejuvenation facilities, coupled with a host of tourism and leisure activities, hospitality services and residential units with modern amenities and infrastructure. The development has four major components – the Oasis Spa Resort, Themed Hotels, a Residential Village and Aqua Park.
The first phase of the development - The Oasis Spa Resort – covers 300,000 square meters and offers health, spa and therapeutic facilities. It will further consist of two VIP towers that will house a range of specialized alternate medical therapeutic services, restaurants and 60 Bedouin style-tents for guest accommodation.
Al-Areen Desert Spa & Resort is being developed as a strategic project by GFH with the support of the Government of Bahrain which holds 33.33 percent through MOFNE in the project's holding company. — (menareport.com)
© 2004 Mena Report (www.menareport.com)
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