Qatar, Cuba to Build Real-Estate Facility in Cayo Largo del Sur

A tourist complex is Cayo Largo del Sur that will include a five-star hotel, a 450-room spa, 60 deluxe villas and a small shopping mall of retail stores will be built by a joint venture between Qatari Resorts S.A., an affiliate of Qatari Diar, and Cuba’s Gran Antilla S.A. Co., an affiliate of the Gran Caribe hotel group.

During the presentation of the new joint venture in day two of FITCUBA 2009 at the National Hotel in Havana, experts said the new compound will be located in Punta Paraiso and will operate as a community marked by top-of-the-line services good enough to meet the needs of the most demanding visitors.

The agreement that embraces a $75 million investment for the construction of the building was inked by Mr. Ghanim Bin Saad al-Saad, Head of the Qatari Resorts Company and CEO of Qatari Diar, and Mr. Jose Joaquin Alvarez Portela, director of Gran Antilla S.A., an affiliate of Gran Caribe S.A.