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Daewoo E&C Corporation of
Seoul, Korea Sells 100%
Interest in Hilton Rabat Hotel in Morocco to SOMED (Societe Maroc Emirates Arabs Unis de Developpement) |
�The Rabat Hilton Hotel is a landmark property and an important investment for SOMED in meeting its corporate objectives� said Abellatif Guerraoui, Chairman of SOMED. �This acquisition is consistent with the mandate established by the governments of both Morocco and the United Arab Emirates.� H.E. Saeed Khalfan Matar Al Romaithi, Director General of Abu Dhabi Fund for Development and Vice-Chairman of SOMED Board of Directors confirms the importance of the acquisition of this property for the expansion of SOMED business and furthering and cementing co-operation between the UAE and Moroccan Investors. The Hilton Rabat is considered one of the top hotels in North Africa and a landmark in Rabat, Morocco�s capital city. The hotel is located adjacent to the Royal Palace in the prestigious Souissi district and was extensively renovated between 1998 and 2000. The hotel is a 10 story building with 269 guestrooms and poolside bungalows, surrounded by nearly 9 hectares of Andalusian-style gardens. The entire transaction was managed by RSP Group of Dubai, U.A.E. RSP is a Middle East based hospitality and real estate investment group specialized in Hotel transactions who acted on behalf of Daewoo in facilitating the sale. |
Contact:
Gaurav Shivpuri
RSP Group P. O Box 41042 Dubai (UAE) Office (971)04 221 99 39 www.royaskelmore.com |