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The Warsaw Voice » Business » April 28, 2011
Business & Economy
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EFH Interested in Working with Investors from UAE
April 28, 2011   
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Hotel operators and developers from the Arabian Peninsula are considering investing in Poland ahead of the Euro 2012 soccer championships that the country is preparing to host together with Ukraine. Such companies are particularly interested in investing in existing hotels and those that are still on the drawing board but could be completed soon. Some of the companies run their own hotel chains and are thinking of hiring Polish staff with experience in the hotel business and speaking fluent English.

Companies believed to be interested in entering Poland and other countries in Central and Eastern Europe include the Al Habtoor Group, which owns five hotels in Dubai, Emaar Properties, and the Dubai Investment Group, which specializes in commercial real estate.

“The tourist and hotel sector in the Arabian Peninsula has reentered a path of rapid development,” said Riad Bekkar (pictured), president of Europejski Fundusz Hipoteczny (European Mortgage Fund, EFH). “Dubai, Abu Dhabi and Saudi Arabia are countries which have reported the sharpest increase in the number of visitors and in the hotel occupancy rate in the past several months.”

Europejski Fundusz Hipoteczny, which has over 700 beds in hotels it owns in Kazimierz Dolny, Bochnia, Łeba and Woliny near Ostróda, says it can see plenty of opportunities in working together with investors in the United Arab Emirates. The company is planning to pay a visit to Dubai to introduce itself to the local investors.

“Polish hotel staff have very good references on markets in Arab countries,” said Bekkar. “EFH has the right experience when it comes to advising investors and hotel operators in the region about opportunities regarding joint projects.”

Europejski Fundusz Hipoteczny is also planning to build a Sheraton hotel in Poland’s Mazury Lake District and is searching for a partner to invest in the project. The Mazury Lakes Resort hotel will operate in the Starwood system. So far, the company has not revealed any financial details about the project. The five-star hotel will be located near the popular vacation resort of Mikołajki. It will have 274 rooms and include facilities such as a spa center and conference rooms.
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