Katara Hospitality to invest in Maldives
Maldives Promotion House – Katara Hospitality is set to develop hospitality and real estate projects in the island state of Maldives following the signing of a memorandum of understanding (MoU) in Doha yesterday.
The MoU was signed by Ahmed Adeeb Abdul Gafoor, Minister of Tourism, Arts and Culture of Maldives, and Sheikh Nawaf bin Jassim bin Jabor Al Thani, Chairman of Katara Hospitality, at The Ritz-Carlton.
The initiative stems from the agreement between the governments of the two countries to strengthen bilateral ties and deepen their economic relationships.
The government of Maldives is offering Katara Hospitality the opportunity to develop hospitality or real estate projects in one of three premium locations, all within a 20- to 30-minute speed boat ride of the international airport in the country.
“Katara Hospitality is a reputed investor and we are confident that their presence in the Republic of Maldives will definitely mark a milestone for the raising the profile of tourism in the country,” said Gafoor.
“The paradise islands of Maldives have always been a strategic destination on the map of our global expansion and we welcome this opportunity”, said Sheikh Nawaf.
Katara Hospitality, previously known as Qatar National Hotels is a leading hospitality organization owned by Qatar Holding. They own and manage luxury hotels in Middle East to the Far East, Africa and throughout Europe. Katara partners with some of the world’s finest hotel brands including The Ritz-Carlton, Sheraton, Raffles, Marriott, Mövenpick and The Bürgenstock Selection, while also developing their own, home-grown Merweb business hotel brand.