Futtaim plans hotel in Waterfront City

Project already applied for IDAL incentives

UAE developer Majid Al Futtaim Properties (MAF) is planning to build a 175-room hotel facing its Waterfront City Centre seaside development.

MAF said the project is currently waiting for the approval of local authorities. Sources from the Investment Development Authority of Lebanon (IDAL) said MAF is currently preparing the necessary paperwork to acquire an IDAL incentives package. The paperwork will be ready within the coming two months, the source said.

MAF’s strategy involves developing a hotel near each of its shopping malls.
The group already owns and operates 12 malls in the UAE. The company’s hotels operate on a management contract model with key global operators, like Kempinski and Sheraton.