Kuwaiti firm investing $100m in resort project

DUBAI - The Chairman and Managing Director of International Financial Advisors (IFA), Kuwait, Jassim M. Al-Bahar has announced plans to invest in a major resort on the Indian Ocean island of Mauritius.

By A Staff Reporter

  • Follow us on
  • google-news
  • whatsapp
  • telegram

Published: Tue 12 Oct 2004, 9:50 AM

Last updated: Thu 2 Apr 2015, 12:37 PM

The resort will be developed by IFA Hotels & Resorts, a subsidiary of IFA, at a cost of approximately $100 million. A Memorandum of Understanding is now to be finalised with IFA and the Government of Mauritius.

The decision follows a visit to Mauritius by Jassim M. Al-Bahar in July this year and a meeting with the country’s Prime Minister, Paul Raymond Berenger, and a meeting this week during the state visit to Kuwait by Prime Minister Berenger and his delegation.

Under the agreement with the Government of Mauritius, IFA will acquire a major property to establish a resort consisting of an internationally operated hotel, villas, townhouses and a golf course. The resort will be one of the leading new resorts on the island that allows foreigners to purchase land and property in Mauritius. IFA says the move will capitalise on the opportunity for foreigners and locals to purchase land and property within the resort and to benefit from the right of permanent residency.


More news from