JORDAN Dubai Capital (JD Capital) and Ishraq Gulf Real Estate Holding plan to develop three Express by Holiday Inn hotels in Jordan.
The hotels will be constructed in Jordan’s major cities at a cost of JD30 million ($42.3 million) and will form part of an aggressive five-year plan to develop over 36 Express by Holiday Inn hotels in the Middle East region.
Sami Al Ansari, COO of Ishraq Gulf Real Estate Holding said: “We are delighted to partner with Jordan Dubai Capital on this project, which is our first venture outside the GCC region and a sign of our strong commitment to the Middle East market.”
Samir Rifai, CEO of JD Capital, said this new alliance is in keeping with JD Capital’s strategic plan of sourcing value-added business ventures that will contribute to economic growth in Jordan. “This deal marks the next strategic step in taking Jordan’s thriving tourism sector forward by filling a gap in the market for affordable, quality accommodation.”
Hospitality Management Services, who are the master franchise developer and operator of Express by Holiday Inn in the Gulf states, will operate the Express by Holiday Inn hotels in Jordan. The hotels will contain up to 500 rooms to satisfy demand for affordable quality lodgings in Jordan.