Retaj Hotels in deal to operate new hotel in Turkey

June 3, 2018

Qatar-based Retaj Hotels & Hospitality Group said it has signed an agreement with Turkish Nivo Group to manage and operate Retaj Suites and Residences - Nivo Atakoy Suites & Residences.

With this, Retaj has become the first Arab company to operate a hotel in the Atakoy area, located approximately 5 km from the airport. Well-known for its charming sea-view, Atakoy area, which is 20 minutes by car from Taksim Square, makes it a great destination for visitors.

The upcoming Nivo project is being developed at Ataköy, one of Istanbul's most up-and-coming quarters in partnership with Turkey-based Cathay Group.

Retaj Hotels & Hospitality Group is keen on providing conservative tourism to Qatari and Arab visitors who are primarily targeted by Turkish tourism, remarked Dr Mohammed Bin Johar Al Mohammad, the vice chairman and managing director of Retaj Group, after signing the deal with Mahmut Alper Tuğsuz, the chairman of Cathay Company, Mehmet Yılmaz, the vice chairman of Cathay and Imad Shanan, the chairman of Liderlik development.

In addition, the ceremony included the signing of a real estate marketing contract for the properties of the Turkish company in Qatar, as well as a technical support contract to provide technical advice and support by Retaj.

'Expanding the management and operation of hotels in Turkey stems from the group's vision and strategy aimed at expanding local and international investment horizons as well as Qatar's vision of diversifying its sources of income and resources,' stated Dr Al Mohammed.

Retaj Hotels and Hospitality Group, he stated, aims to provide conservative tourist destinations for Qatari investors.

The Qatari investments in Turkey are in the second place in terms of size, which exceeds $20 billion and are expected to jump to the first place in few years in many sectors, topped by tourism sector, he added.

Atakoy Hotel has 314 hotel apartments, with full privacy, and this comes in line with the vision and mission of the Retaj Hotels and Hospitality Group, which aims to spread the principles of genuine Arab hospitality.

Alper Tuğsuz expressed delight in Retaj’s interest in Ataköy project, located in one of Istanbul's most exclusive locations.

'Retaj is one of only few investors from the Gulf to invest in the Turkish real-estate development industry. Therefore, we consider their choosing our project to invest in as a global seal of approval for our project.' Thanks to the partnership agreement, Nivo Ataköy will elevate both the value and the quality of life in the region,' he noted.

Located right at the centre of Ataköy and supported by its architectural and social facilities, Nivo Ataköy is now a truly a world-class real-estate project, he added.

Shanan,underlining the significance of the Nivo Ataköy project, said: 'We aim to offer more lucrative opportunities to our investors with our agreement with Retaj Hotels and Hospitality.'

'This agreement will help us introduce many firsts under the project, which we believe make it much more appealing to international investors,' he added.