Qatar to build a new deluxe Cuba hotel in Cayo Largo
The wealthy Persian Gulf nation of Qatar announced the building of their first ever Cuba hotel to be developed in Cayo Largo by the Qatar Diar Real Estate Investment Company. The new hotel will be a five-star deluxe resort to be named 'Gran Paraiso'
A grand new resort which will soon be starting construction in 2010 is set to become the most luxurious of Cuba hotels to be built in Cayo Largo. Funded by the wealthy Persian Gulf nation of Qatar the new “Gran Paraiso” hotel in Cayo Largo will offer future guests the most exclusive luxury holidays imaginable in this small key off the south coast of Cuba.
Officially announced last May at the International Trade Fair in Cuba, the new project will be a joint venture between Qatar and Cuba, as are all Cuba hotels and resorts which by law cannot have more than 50% foreign ownership. The participant parties are Cuba’s government owned Gran Caribe chain of hotels and the Qatari company. It is the first real estate deal between the two countries and both sides agree on their eagerness to explore the possibility of jointly adding more Cuba hotels and resort developments in the future.
Revolutionising the concept of luxury for Cuba holidays in Cayo Largo, this new hotel is set to start construction in 2010 with an expected opening date some time in 2012. The resort will feature as many as 450 rooms and 60 luxury villas.
Reuters reported that the Qatari company “views Cuba as ripe with investment opportunities and is looking at other possible projects, not all in tourism” and it plans to make Cuba one of its principal areas of real estate development activity with scope for continuing their investment in the tourism sector and work around enhancing Cuba holidays with the addition of a higher standard selection of Cuba hotels.
“Cuba has strong economic bases, above all in tourism,” President Al Saad says. “We want to send the clear message to the world that Qatar is at Cuba’s side” and he also expressed his interest for Qatar and Cuba to discuss agriculture ventures as well.
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