Last August, the government announced it was making available a total of US$ 300 mn to renovate six Baghdad hotels in preparation for the Arab League Summit. The six—the ISX-listed Palestine (HPAL), Babylon (HBAY), Baghdad (HBAG), Mansour (HMAN), and Ishtar Sheraton (HISH) hotels, and the unlisted Rashid Hotel—were to receive 75% of the new funding […]
Faruk Group Holding, a major conglomerate in Iraq, has unveiled big investment plans for the northern city of Sulaymaniyah. According to Trade Arabia, the group with a diversified range of interests including telecommunications, cement, manufacturing, hotels, medical services, properties, construction and IT, has pumped more than $400 million into its hospitality industry alone. Unveiling the […]
Swiss-Belhotel International is pleased to announce the signing of a management agreement with Sardar Investments Pty. Ltd, a part of Sardar Group, for the management of a 4 star international hotel in Erbil. Erbil, a historical city (6000 BC) and the capital of Iraqi Kurdistan, is home to a large number of international companies, government […]
Range Hospitality, a dynamic, progressive and innovative institution focused on hospitality and real estate, has launched the Al Rawdatain Gardens development in Iraq's pilgrimage centre, Karbala, to cater to the significant shortage of accommodation. Approximately 18 million pilgrims visit Karbala during the peak seasons every year. With a current shortage of accommodation in the city, […]
On August 11, the Iraqi paper Addustour (Constitution) reported that the government would be providing six hotels with a total of US$ 300 milion to upgrade their facilities in preparation for the Arab League summit, which is scheduled to be held in Baghdad next March. The six—the ISX-listed Palestine (HPAL), Babylon (HBAY), Baghdad (HBAG), Mansour […]
Iraq will spend $300 million [350 billion Iraqi dinars] to upgrade six major hotels in Baghdad for an Arab summit next year, Foreign Minister Hoshyar Zebari told AFP on Tuesday. "We will invest around 300 million dollars to transform our six largest hotels to international standards for the Arab summit at the end of March", […]
As markets continue to saturate in the region, Iraq emerges as a new destination for investors in the hospitality and aviation sectors.
