Range Hospitality, a leading real estate developer, said work has started at its five-star hotel complex in Karbala, Iraq and the project will be completed in third quarter of 2013.

Al Rawdatain Residences by Shaza is the flagship project of Range Hospitality, which has offices in UAE, United Kingdom, Kuwait, Pakistan and Bahrain.

The 65,000 sq m hospitality development is conveniently located just a kilometre away from the holy Shiite shrines, said Munaf Ali, CEO of Range Hospitality while speaking at the 'cornerstone ceremony' celebrations of the flagship project.

Once completed the 12 storeyed development will be the largest five-star hotel and residence in Iraq, he added.

The event was attended by the vice chairman of Range Hospitality, Mohammed Asaria and all other board members of Range Hospitality accompanied by senior Iraqi officials.

Giving the project update, Ali said construction had started on the site in the second quarter and steady progress has since been made.

"Karbala is a destination which deserves and demands superior facilities for all its pilgrims," he remarked.

Ibrahim Al Daaysi, a director of Range Hospitality, said the company was planning to launch similar projects in other religious destinations including Najaf.

"Our aim is to facilitate the pilgrims with extraordinary comfort and a true five star hospitality experience at our developments," he noted.

According to Ali, the five-star hotel project will add to the confidence level of other international firms to consider Iraq as one of the most lucrative markets in the region for investment purposes.

"The continued success of our project will definitely create a positive impact on the perception of the business environment in Iraq," he added.

Ali pointed out that Karbala faced an acute shortage of standard accommodation throughout the year and pilgrims were left with no choice but to compromise with the poor quality of hotels and excessive prices.

"With over 600 fully furnished and serviced suites, Al Rawdatain aims to address this need by offering pilgrims a superior hospitality experience. Pilgrims will benefit from 24 hour security, crèche services, business centre, in-suite dining, and a unique kid’s club."

"There will be four restaurants offering a large variety of cuisines to cater to the diverse taste of pilgrims from different nationalities," he added.

Ali said, "Al Rawdatain Residences is accessible to everyone through our unique Shariah compliant fractional ownership proposition, Mulkiya Intifa’a."

"The Mulkiya Intifa’a contract allows buyers to exchange their unit, view, floor or time period along with an option to resell, gift or transfer their ownership," he noted.

The prices start from as low as $5,500 to own a Studio suite for low season period for the next 50 years. This equates to $5 per bed per night," he added.-TradeArabia News Service