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Gulf Hotels Group expands its investments in Dubai

Bahrain - March 11, 2015
Gulf Hotels Group

The investments value of Gulf Hotels Group reached 50 million BHD according to Farouk Al Mo’yad, the company’s CEO. The company’s investments included a new hotel construction project in Dubai near Khalifa Tower, Office apartments project in Juffair, in addition to purchasing and developing Block 338 restaurant.

Gulf Hotels Group is currently negotiating an administration contract with two 4-star hotels in Bahrain according to Al Mo’yad. The company’s is looking also for another eligible raw land for investment in Dubai.

The company achieved during the last year net profits of 11.277 million Dinars. Profits rose by 4.29% compared with 2013 profits which is equivalent to 816.428 BHD. The company will allocated 217.500 thousand BHD for board members, 279.144 thousand BHD for charity deeds and 10.000 thousand BHD for national and marketing activities.

Gulf Hotels Group is believed to distribute profits of 6.6 million BDH on shareholders. Each share portion will reach 40 fils.

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