As the development opportunities heat up in the Middle East, an increasing number of developers and diversified real estate companies are forming hotel subsidiaries to capitalize on the many new opportunities in the region. One such growing player of note is MAK Hospitality, a newly established subsidiary of Kuwait-based M.A. Kharafi Group, a 100-plus-year-old, US$4.5 billion company involved in engineering, construction, real estate and more.
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