Lakhraim Group plans major expansion in Middle East

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The Lakhraim Group, a leading conglomerate with over AED6 billion ($1.64 billion) in assets and a strong foothold many sectors, has announced its aggressive expansion plans across the MEA region.

As the region's fastest-growing hotel operator, Millennium Hotels and Resorts MEA, under the management of Lakhraim Group, will solidify its position as a hospitality leader. A major expansion plan is underway to add 65 new hotels, an impressive increase on the group’s already heavy-weight portfolio of 59 hotels across the region, the group said.

Diversifying Investments and Expanding Footprint

Lakhraim Group, started as a modest hotel brand in the Middle East and Africa region (MEA) just two decades ago, has transformed into a dynamic, multi-faceted conglomerate. It now commands a formidable presence across hospitality, private equity, venture capital, property development, and commercial construction and is set to expand further across all these key business verticals.

From a single property in Abu Dhabi, Lakhraim Group has expanded its footprint to include iconic properties like the luxurious The Biltmore Hotel Villas Dubai, Millennium Al Masar Jeddah, and Millennium Place Hotel Doha. Highlighting the success of its existing portfolio, Millennium Executive Tower on Sheikh Zayed Road in Dubai boasts a remarkably high occupancy rate in its recently renovated residences.

Under its Tetra Hotels & Resorts brand, Lakhraim Group is creating a new luxury dining destination in Dubai with the launch of Limestone House in DIFC. Currently undergoing renovation, Limestone House will host several renowned Michelin-starred restaurants. Additionally, the group is developing The Biltmore House on Sheikh Zayed Road, a high-end destination with luxury dining, retail outlets, a wellness center, and prestigious office space.

Ali Hamad Lakhraim, Chairman and Founder of Lakhraim Group, said: "We are thrilled to announce the rapid expansion of Millennium Hotels and Resorts MEA, which underscores our commitment to providing exceptional hospitality experiences across the region. Simultaneously, Tetra Hotels & Resorts is redefining luxury with innovative concepts that cater to the evolving needs of discerning travelers. These strategic moves solidify Lakhraim Group's position as a leading force in the hospitality industry."

Furthermore, Lakhraim Group’s investment arm, Zain Capital, is strategically expanding its portfolio. Zain Capital recently completed the renovation of DHCC Building 47, achieving a 93 per cnet occupancy rate. Dubai’s real estate market, known for its resilience and consistent growth, provides a solid foundation for Zain Capital's investment strategy, highlighted by its development of a 277,000 sq ft land plot.

“Each business complements the others creating a powerful synergy within our group,” added Ali. “Our journey exemplifies what can be achieved through dedication and hard work.”

“Dubai's dynamic business environment and supportive infrastructure have been instrumental to Lakhraim Group's success,” says Fahad Abdulrahim Kazim, Group CEO of Lakhraim Group and CEO of Millennium Hotels & Resorts MEA. “Our vision is to be a leading force in shaping the region's future through strategic investments and innovative ventures. By capitalizing on Dubai's growth trajectory, we aim to create sustainable value for our stakeholders while contributing to the city's economic prosperity.”

Dubai, a global hub for business and tourism, has been a key driver of Lakhraim Group's growth. The city’s robust economy, coupled with its strategic location, has made it an ideal platform for the group's expansion initiatives, it said.