<!-- /* Font Definitions */ @font-face {font-family:"Times New Roman"; panose-1:0 2 2 6 3 5 4 5 2 3; mso-font-charset:0; mso-generic-font-family:auto; mso-font-pitch:variable; mso-font-signature:50331648 0 0 0 1 0;} /* Style Definitions */ p.MsoNormal, li.MsoNormal, div.MsoNormal {mso-style-parent:""; margin:0cm; margin-bottom:.0001pt; mso-pagination:widow-orphan; font-size:12.0pt; font-family:"Times New Roman"; mso-ansi-language:EN-GB;} table.MsoNormalTable {mso-style-parent:""; font-size:10.0pt; font-family:"Times New Roman";} @page Section1 {size:612.0pt 792.0pt; margin:72.0pt 90.0pt 72.0pt 90.0pt; mso-header-margin:35.4pt; mso-footer-margin:35.4pt; mso-paper-source:0;} div.Section1 {page:Section1;} -->
Range Hospitality, an institution focused on hospitality and real estate, is launching the Al Rawdatain Gardens development in Iraq.
Located near the pilgrimage centre of Karbala, the development is being designed to cater for the significant shortage of accommodation brought about by the 18 million pilgrims who visit the area during the peak seasons every year.
Investment in this development is available through Mulkiya Intifa'a - a Shariah Compliant Fractional Ownership proposition.
Iraq's $112 billion economy whose GDP is growing at an average rate of 5.1% over the last three years has seen the Government actively encourage foreign investment through a number of initiatives including an amendment to the National Investment Law.
As the first modern development to be built in Karbala, Al Rawdatain Gardens will have an elegant 12-storey residence structure at its core comprising a mix of fully furnished and serviced studios, one-bedroom and two-bedroom suites. Spread over 55,000 square metres, the development is designed and furnished in accordance with international standards, with full air conditioning and heating, including internet access and safety deposit boxes. The entire development will include a total of 624 suites, extensive public areas, four restaurants, landscaped gardens, health facilities, 24-hour security, child care facilities, business centre, and guest services.
"We are receiving independent approaches from some of the world's leading hotel operators to manage Al Rawdatain Gardens," Asaria revealed. "We are in the process of operator selection and the calibre of the companies approaching us is clear evidence of the importance of Karbala within 'New Iraq' and the wider MENA region."
In conclusion, Ali stated: "Range Hospitality was established to achieve both commercial and altruistic objectives. We have committed to donate 20% of our annual profits to charities under the direction of our Charitable Donation Committee."
Tell us what you think of this topic by posting your comments below.
© www.opp.org.uk