Makaseb Holding, a premier regional investment and development company, in association with Tasees, the subsidiary real estate development and investment arm of Tamerat Almousa Group, has announced that it has appointed Sanctuary Hotels and Resorts to manage its AED 1 billion Quattro West Hotel and Business Park, during a press conference held today (Wednesday, May 23, 2007) at the Burj Al Arab in Dubai.
Under the terms of the agreement, Sanctuary Hotels and Resorts, a premier British operator of hotels, resorts and residences, will provide comprehensive management services for the project in Jumeirah Village.
On completion in 2009, Quattro West Hotel and Business Park will comprise a luxury five-star hotel with 350 rooms, an exquisite shopping mall with brand showrooms from all over the world, an office tower that has 45 floors of Individual Freehold office units, and a hotel apartments block with 260 premium hotel apartments. The five-storey base will feature shopping malls, a banquet hall, a convention center, a business center and a parking facility.
Eng. Hesham Abdel Ghani, Founder, Makaseb Holding, commented, “We wanted to ensure that we had a very professional company to manage our developments, as excellent management services prevent many issues and keeps visitors, residents and investors happy. Our partnership with Sanctuary Hotels and Resorts will ensure a total life-cycle of care for the development, as we believe that the relationship between a successful developer and investor does not end at project delivery.”
The mixed-use development will be set amongst luscious landscaping, connected parks and boulevards, offering a diversity of leisure and lifestyle amenities. The entire project will occupy a ground area of 103,000 square feet, with a total built-up area of one million square feet.
“We are delighted to have been appointed to work with Makaseb for such a huge project, and we will offer a unique vision that is underscored by our commitment to creating sanctuary moments. We have already provided first class management services for some of the world’s most distinctive hotels, resorts, and residences, and we look forward to generating a similar reputation in the Gulf region,” said Peter Blackburn, CEO, Sanctuary Hotels and Resorts.
Launched with an AED 20 billion fund, Makaseb Holding is a joint venture between the Rufi Group of companies; Sharm Land Limited; A&A Investment; and Quattro. The company has recently achieved major success with its flagship ventures, Quattro and Quattro West.
Originating in the United Kingdom, Sanctuary Hotels & Resorts has recently established a presence in the Middle East with its local partners - the Al Husam group of companies and First Merchant International, a subsidiary of the First Gulf Bank. The company is committed to offering the unique Sanctuary experience by providing sustenance for the mind, body and spirit in exquisite settings that offers peace and tranquility.
Tasees is a premier development and investment company with a portfolio of prestigious residential and commercial projects in the UAE. It was formed following a partnership between Saudi Tamerat Al Mousa, which represents several Saudi private and family-owned businesses, and the UAE’s Ali Mousa & Sons Group, an established investment company.
