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Posted On: 29 April 2008 11:22 am
Updated On: 12 November 2020 02:08 pm

Qatari Diar to set up five-star hotel in Cuba

Khalifa Al Haroon
Khalifa Al Haroon
Your friendly neighborhood Qatari
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Qatari Diar has signed an agreement with the Republic of Cuba for a $70m investment to develop an exclusive five-star resort in Cuba. The Memorandum of Agreement was signed by Ahmed Al Mazroei, Deputy Chief Executive of Qatari Diar and Marta Lomas, Minister for International Investment, Republic of Cuba at Qatari Diar's Lusail headquarters. The investment at Cayo Largo will develop an exclusive five-star resort, consisting of a 200 bedroom hotel and 60 deluxe villas. Cayo Largo Resort is located on an island, twenty five minutes by aircraft off the Cuban mainland. The hotel will also have world class facilities including a spa and fitness centre and conference facilities. The $70m investment is a joint venture with Gran Caribe, a Cuban company 100 percent owned by the Cuban Ministry of Tourism. Three further sites have been identified in Cuba for future developments. Speaking at the ceremony, Ahmed Al-Mazroei, Deputy Chief Executive of Qatari Diar said, “We believe that this project highlights the strong relationship between our two countries and we look forward to working with Gran Caribe on the development.”