Hotels

Ritz Carlton hotel in Dubai attracts seven bids

May 2 - The Ritz Carlton hotel in Dubai, which is scheduled to open at Dubai International Financial Center this month, has attracted at least seven bids.  The hotel’s developer, Union Properties, is trying to unload hospitality assets in order to raise cash, as it recovers from losses caused by declining property values and lower sales, which last year reached Dh498 million (US $135.5m). 

Khalid bin Kalban, chairman of Union Properties said “everything is for sale at the right price while speaking after a shareholders meeting last week when it was decided that payments on the companies Dh 6.5 bn debt will be postponed until next year.  Union Properties has priced the Ritz Carlton in Dubai at Dh 1.5 billion.   Mr. bin Kalban said two or three of the potential buyers have available cash ready for the purchase. “Some investors want the asset but need to raise liquidity. Others have the cash already” he said.
 

More Hotels
Emirates Palace Abu Dhabi to celebrate Mexican National Day with Mexican food fiesta
Looking for an adventure - go to Iraq for Eid
* Hotel Metropole Geneva
Latest Travel News
flydubai will fly to Tashkent from 11 Ma...
ATM Dubai to launch Holiday Shopper on 2...
Agoda partners with Saudi Ministry of ...
Featured Sights To See
Frankfurt Zoo

Frankfurt Zoo

Frankfurt, Germany

The biggest attraction for families is the Frankfurt Zoo. Located in the Ostend, it attracts quite a crowd on Sundays and public holidays. With 4,500 animals of over 400 species, the Zoo promises lots to see on its extensive and well-maintained 11-hectare grounds. Admission fees: adults 8 Euros and children 4 Euros. Opening times: 10 am- 7pm in summer.                          10am-5pm...

What to do with Children in Tow

What to do with Children in Tow

Bahrain, Bahrain

Adhari Park When: Daily Where: Shaikh Isa Bin Salman Highway Cost: Entrance 0.5 BD; Park card 0.25 BD; Rides 0.30-1 BD Phone:+973 1740 7300 Adhari Park in Bahrain is a treasure trove for parents wondering what to do with overactive children. It is 165,000 square metres of indoor and outdoor rides, food and shopping. Quickly becoming the biggest family attraction in the region, the pa...

Bait al Baranda

Bait al Baranda

Muscat, Oman

This “bait” (house) was converted into a museum in 2006, and now showcases the history of the city of Muscat and of Oman dating back to pre-historic times. The interactive exhibits are both interesting and educational and international collections are frequently on display here. One of the museum’s most unique features is the dinosaur bones on display, which were excavated in Al Khoud near Muscat....

Greek Folk Art Museum

Greek Folk Art Museum

Athens, Greece

This is a wonderful museum which displays and exhibits Greek dress across the centuries and across various Greek regions, in addition to frescoes, rugs, blankets, embroidered linen, puppets and pottery. Frescoes and murals made by the artist Hatzimichail are also showcased here. These are especially interesting since Greek gods and goddesses and other famous Greek personalities are painted onto th...