Sami Al Ansari, CEO of Ishraq Gulf Real Estate has said the company plans to boost its initial investment of $100 million (Dh367.3m) with an additional $100m for its hotels under construction in the GCC, Emirates Business has reported. He said the company will soon start the construction of a 289-room Holiday Inn Express in Bahrain in addition to the design of a project in Fujairah in the UAE.
It has also recently acquired land in Muscat for a 220-room hotel, he said. Other cities where new Holiday Inn Express hotels are planned are Abu Dhabi and Doha, where the company has signed joint ventures for properties with 240 rooms.
Ansari has also said that the company plans to open its fourth property in Dubai, Holiday Inn Express Dubai International Airport, by the end of this summer.