Dubai World to invest $70 million in Comoros

DUBAI — Dubai World yesterday announced it would be investing $70 million in a luxury hotel and residential development in Comoros, in the Indian Ocean.

By A Staff Reporter

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Published: Wed 12 Sep 2007, 9:12 AM

Last updated: Sat 4 Apr 2015, 11:39 PM

Dubai World inked a deal with senior representatives of the Comoros Government. The deal saw the formation of a company established specifically for the acquisition, Dubai World Comoros Limited, in which the Comoros Government is a shareholder.

The partnership will see the redevelopment and refurbishment of the country’s leading hotel, the 150-room Le Galawa beach resort and spa. In addition, 22.5 hectares of adjacent prime beachfront will be developed, with 100 new residential villas and townhouses, a spa, restaurants, and beach and kids club. A watersports centre with a boat club, diving centre, marina watervillas and a residents’ club will also play an integral role in the upscaling and expansion of the resort development.

Sultan Ahmed bin Sulayem, Chairman of Dubai World, said: “The announcement marks the first stage of a strategic partnership between Dubai World and the Government of Comoros. We have a strong understanding and affinity with our new partners, and look forward to building a long-term relationship that will see Dubai World play an active role in the master planning of the country.

“We believe our partnership will make a significant contribution to the tourism offering in Comoros. It also marks the expansion of Dubai World into the African tourism market, following recent investments in hotels and resorts in Djibouti and Cape Town — including V&A Waterfront and Pearl Valley Signature Golf Estate and Spa — and the opening of a Cape Town office for Istithmar.”

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