Are you looking at developing any properties in Saudi Arabia?
We’re looking at it, but in the current circumstances we want to focus on what we have now — but yes we are very keen on doing a couple of properties in the medium term, not immediately… but we may do something in the eastern province, probably by the end of this year.
We have a 16 properties’ land bank, of which five are open [in Salmiya and Sharq in Kuwait; Muscat, Oman; Amman, Jordan; and Melbourne, Australia] and four are under construction, so we have an internal pipeline which is enough to keep us going; it’s very capital intensive and we are focusing on that.
What do you predict will be the strongest markets in 2011?
This year is generally a tough year unless you’re in Dubai. Dubai is benefitting a lot from the region, we don’t have any hotels yet in Dubai. Kuwait is a strong market, Australia is a very strong market.
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