AIFC participant, KIDF signs Agreement of Understanding with FTG, Sembol İnşaat and Accor
Within the framework of the round table with the captains of the Turkish business, an Agreement of understanding was signed between the AIFC participant “Kazakhstan Investment Development Fund (KIDF) Management Company” Ltd., FTG Gayrimenkul Yatirim Turizm Madencilik Ve Inşaat Sanayi Ticaret Anonim Şirketi, Sembol Uluslararası Yatırım Tarım Peyzaj İnşaat Turizm Sanayi Ve Ticaret A.Ş. and Accor.
Within the framework of the Agreement, KIDF, FTG and Sembol intend to complete the construction of the Fairmont Hotel being developed by the parties as part of the Tethys project in the city of Aktau, Kazakhstan, and entrust its management to Accor.
The Fairmont Hotel is located on the sandy shores of the Caspian Sea of the Republic of Kazakhstan and it is a part of the international touristic hub, which also includes premium hotels, shopping center, theme park, golf club, villas, residential houses and other premises.
Reference:
The Astana International Financial Centre (AIFC) is an independent jurisdiction that started operations in 2018. In accordance with the Development Strategy until 2025, the key focus of the AIFC is to consolidate as a universal platform connecting the countries of the EAEU, Central Asia and the Caucasus.
“Kazakhstan Investment Development Fund (KIDF) Management Company” Ltd. is a management company that manages assets of the «Direct Investment Fund «Kazakhstan Investment Development Fund (KIDF)» Ltd. that was duly incorporated under the rules and regulations of the AIFC. KIDF was established to facilitate investments in the development of priority sectors of the Republic of Kazakhstan on the principles of co-investment with foreign investors. Additional information can be found at www.kidf.kz
FTG Gayrimenkul Yatirim Turizm Madencilik Ve Inşaat Sanayi Ticaret Anonim Şirketi is a real estate, hospitality and entertainment design, development and consultancy company, whose activities span across more than ten countries, amongst them, primarily in Kazakhstan, Turkey, GCC, CIS, Germany, Croatia and Switzerland. Additional information can be found at www.ftgdevelopment.com
Sembol Uluslararası Yatırım Tarım Peyzaj İnşaat Turizm Sanayi Ve Ticaret A.Ş. is an international time-proved construction company branded its name in the world with its completed and ongoing unique technological projects through three continents particularly in Kazakhstan, CIS, MENA Region and European countries. Additional information can be found at www.sembolinsaat.com
Accor is a world leading hospitality group consisting of 5,300 properties and 10,000 food and beverage venues throughout 110 countries.
