Dubai-based Almulla Hospitality and UK-based Jasper Capital have joined hands to set up a real estate company that will develop international chain of Cliftonwood, Adham and Wings hotels.
Almulla Hospitality plans to tap into the growing Muslim travel market with a hotel chain operating under universal codes such as no alcohol and Halal food only, said a company official.
The deal with the Jasper Capital Group of the UK will help structure the financial real estate company to develop plans for an international chain of Islamic-compliant hotels with 150 properties worldwide.
The company plans to set up 90 of such hotels n the Middle East and North Africa, said Abdulla Mohamed Almulla, chairman of Almulla Hospitality.
"At the launch of Almulla Hospitality we had announced that our goal is to achieve, within five to seven years, 150 properties worldwide under management," Almulla said. "We are very pleased to assign Jasper Capital Group of the UK to structure a plan toward achieving our goal."
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