A new expansion strategy will see Bahrain-based Gulf Hotels Group investing $132 million over the next few years to expand the existing hotel portfolio and establish a number of stand-alone restaurants, it has emerged.

The group chairman Farouk Almoayyed told reporters on the sidelines of the annual general meeting held at the Gulf Hotel that the development of the 230-room, five-star Gulf Hotel Business Bay in Dubai, UAE, has begun, said a report in the Gulf Daily News (GDN), our sister publication.

The waterfront property located 1.5 km from Burj Khalifa and Dubai Mall is now in the design stage with construction expected to commence late this year and be completed by late-2017.

He said the development of the Gulf Residence Amwaj in Bahrain, in conjunction with Lona Real Estate, is nearing completion and the 173 unit; four-star apartment-hotel will open in the middle of the year.

On the expansion of the group into the stand-alone restaurant space, Almoayyed said the company has acquired Block 338 in Adliya Tourism Zone and is developing plans for a multi-unit restaurant and leisure facility.

Construction is expected to commence in the second half.

The group chief executive and director Aqeel Raees said the refurbishment of the Gulf Hotel's Awal Ballroom will be done during the summer.

“Work has already started to create a new lounge off the Al Andalus Lounge, the fit-out of which will start soon and it will be ready to take customers by the middle of the year,” he said.

Refurbishment of the South Wing building was completed and work is going on for the Gulf Executive Residence, which is also scheduled to be completed by middle of the year.

In addition, the soft refurbishment of the tower block rooms will also be undertaken in the second half.

The construction of a new spa is also under way with completion scheduled in third quarter, he said.

The group is also currently developing a 108-unit serviced apartment facility in Juffair, with construction expected to commence in the second half for completion in 18 months. - TradeArabia News Service