Dear Alfa International Holding Corp. shareholder, In our continuing pro-active efforts to keep investors apprised of the most relevant and timely information on Alfa and its target markets, AGORACOM is pleased to present you with this latest Industry Update.
Alfa International Holdings Corp. conducts all its real-estate development business activities through its wholly owned subsidiary, Journey of Light, Inc. (JOL)
A Memorandum of Understanding (“MOU”) between JOL and the Sultanate of Oman was announced August 01, 2005 for the construction of this tourism and residential real-estate development project with a presently projected construction cost of approximately U.S. $1.6 billion.
Please find below an article which was published on today in the Gulf News which announces expansion of the wave project to include Fairmont Hotels.
Gulf News is committed to serve and inform our readership and to report authoritative, informative and engaging news. We take pride in our solid coverage of the UAE and Gulf regions. With a broadsheet daily circulation of 91, 000 we have proven ourselves locally as leaders. Now gulfnews.com gives us the opportunity to prove ourselves globally.
The online edition of gulfnews.com was launched on the 1st September 1996, their resolve has been to deliver quality news online. The website allows us to broadcast our regional news internationally, receiving more than 400,000 hits daily.
Regards,
AGORACOM Investor Relations
To read the entire article, please use the following link:
http://www.gulfnews.com/business/Hotel_and_Tourism/10110732.html
Oman's $2b The Wave developer signs deal with Fairmont Hotels
03/12/2007 10:34 PM | By Sunil K. Vaidya, Bureau Chief
Muscat: Developers of The Wave, Oman's first $2 billion beachfront freehold property, inked a deal with Fairmont Hotels and Resorts to manage a golf resort hotel. It marks the global hospitality chain's foray into the Sultanate.
Traditional Omani architecture has been the hallmark of most of the properties in Oman with a deliberate attempt to avoid high rise buildings."We are aware of Oman's conscious efforts to maintain country's architecture and we would be in line with that policy and complete our 300-plus room resort with distinct local architecture by 2010," said John Johnston, Executive Vice President of Fairmont.
Unrivalled
"We want to be unrivalled this is why we picked this spectacular beachfront property," he said, adding that Fairmont, which celebrates its 100 year this year, currently manages 50 hotels across 10 countries.The new resort will be located adjacent to the 18-hole championship links course designed by Greg Norman.
The tourism component of The Wave, Muscat will be comprised of four hotels. Developers say guests will be able to enjoy the many recreational and retail facilities available throughout the exclusive resort community.
