A new hotel brand is emerging from Dubai as retailer Forever Rose has announced plans to develop properties in Dubai, London and Qatar.
Al Samadi Group is investing US$17 million to develop the first 50-room Forever Rose property in an historic building in Knightsbridge, central London, scheduled for a 2018 opening.
A US$26 million hotel in Dubai is set to open by 2020 and a third property with a similar investment is set for Qatar before the 2022 World Cup.
Al Samadi Group Chief Executive Ebraheem Al Samadi said Brexit won’t affect UK tourism and will remain part of Gulf nationals’ lives. “The real estate might take a hit because a lot of [wealthy] EU people based in the UK might leave because of the inconvenience of exiting and entering, and the rental market will also take a dip,” he added.