Dubai retailer Forever Rose is set to open hotels in London and GCC as part of new investments plans.
The Dubai-based retailer Forever Rose is preparing to expand its operations into the hotel sector, with the first property opening in central London by 2018, according to local media.
Owned by the Dubai retail and hospitality company Al Samadi Group, Forever Rose will invest US $17 million (AED 63.2million) in the Knightsbridge hotel.
The company will follow up with a property in Dubai, with an investment of $97 million (AED 356 million) before 2020, and another in Qatar before the World Cup in 2022 with a similar size investment.
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The hotels in the Arabian Gulf region will have between 90 and 140 rooms.
Forever Rose and Al Samadi Group chief executive Ebraheem Al Samadi said: "Brexit won’t affect tourism, and [the UK] is a 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."
The company will expand into Qatar in September, and to Kuwait in December. A Forever Rose cafe is also expected to open in Riyadh in the fourth quarter of 2016.
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