The Ramee Group has taken full control of its and announced plans to star destination.
The hospitality sector expansion was announced at a press conference on Monday at the Ramee Grand Hotel & Spa in Seef. Ramee Properties has increased its 40 per cent stake and made ‘full acquisition’ of the balance of 60 per cent of shares from Alireza & Sons Group in the Millennium Middle East Properties owning company of the hotel, with a total valuation now standing at BD30 million.
Raj Shetty, chairman, said: “This move will add value to the property and gives us an opportunity to provide enhanced services. We will continue to invest in the kingdom and provide the
necessary infrastructure for the hospitality industry to grow.”
The Ramee Group of Hotels & Resorts purchased its first hotel he Ramee International Hotel, Dubai’ in 1994 and now boasts more than 40 in its portfolio. In Bahrain, the group is well
known as a leading company in the luxury apartments sector.
Project director Ahamed Nadeem revealed that the group had purchased land in Juffair to build the first five star hotel in the live district of Manama, to begin construction in 2018 and be ready to open in 2020.
He explained: “The acquisition of this hotel is a benchmark for our future developments, bringing the height of luxury to a new area. Furthermore, we will be looking to upgrade all our other hotels and their interior designs in a wide-scale refurbishment programme.”
The company took the opportunity to announce that its latest hotel apartment suites project, also in Juffair, will be ready by the end of the year. It will consist of 120 suites, a restaurant, spa, health club and outdoor swimming pool.
