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Hotel shares fully subscribed
December 2002 59
Subscription to the Four Seasons Hotel Project in Beirut has closed after the issue was subscribed to in record time.
The project cost is estimated at $100 million.
The project is currently under development in Beirut's downtown area, Solidier.
The Kingdom Hotel Investment Group's (KHI) is the major shareholder in the project.
This is the group's second undertaking in Lebanon after the Mšvenpick Beirut hotel opened in July of this year.
This brings the group's total Lebanese investments to $250 million.
Investors that have subscribed to the Four Seasons Beirut hotel project include, from Kuwait, the International Financial Advisors (IFA), Mohammed Abdul Rahman Al Bahr, Mohammed Abdul Muhsin AlKhurafi Company, and from Saudi Arabia Sami Musaed Al Saif.
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